Robert Blumofe, CTO of Akamai Technologies Inc (AKAM), sells 3,000 shares

Robert Blumofe, Chief Technology Officer of Akamai Technologies Inc (NASDAQ:AKAM), executed a sale of 3,000 shares of the company on June 14, 2024. The transaction was documented in a recent SEC filing. Following this transaction, the insider now owns 24,729 shares of the company.

Akamai Technologies Inc specializes in providing cloud services to deliver, optimize and secure online content and business applications. The company’s solutions help businesses improve user experiences on the Internet by accelerating and improving the delivery of content and applications.

Over the past year, Robert Blumofe has sold a total of 23,238 shares and has not purchased any shares of the company. This recent selling is part of a broader trend being seen within the company, which has seen 35 insider sales and just 3 insider purchases in the last year.

Insider Selling: Robert Blumofe, CTO of Akamai Technologies Inc (AKAM), sells 3,000 sharesInsider Selling: Robert Blumofe, CTO of Akamai Technologies Inc (AKAM), sells 3,000 shares

Insider Selling: Robert Blumofe, CTO of Akamai Technologies Inc (AKAM), sells 3,000 shares

On the date of the sale, shares of Akamai Technologies Inc were priced at $88.34. The company has a market capitalization of approximately $13.57 billion. Its price-to-earnings ratio stands at 22.16, which is below the industry median of 26.34 and also lower than the company’s historical median.

According to the GF Value, an estimate of intrinsic value from GuruFocus, Akamai Technologies Inc is currently modestly undervalued. The GF value of $113.11 suggests a price-to-GF value ratio of 0.78.

Insider Selling: Robert Blumofe, CTO of Akamai Technologies Inc (AKAM), sells 3,000 sharesInsider Selling: Robert Blumofe, CTO of Akamai Technologies Inc (AKAM), sells 3,000 shares

Insider Selling: Robert Blumofe, CTO of Akamai Technologies Inc (AKAM), sells 3,000 shares

The GF value is calculated based on historical trading multiples, such as price-to-earnings ratio, price-to-sales ratio, price-to-book ratio and price-to-free cash flow, adjusted by a GuruFocus factor that takes into account returns and growth from analysts’ past, and future estimates of business performance.

This insider sale may be of interest to current and potential investors as it provides insight into the insider’s perspective on the stock’s valuation relative to its current trading price.

This article, generated by GuruFocus, is intended to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, uses an unbiased methodology and is not intended as specific investment guidance. It does not make a recommendation to purchase or dispose of shares and does not take into account individual investment objectives or financial circumstances. Our goal is to deliver fundamental, long-term data-driven analysis. Please note that our analysis may not include the most recent price-sensitive company announcements or qualitative information. GuruFocus has no positions in the stocks mentioned herein.

This article first appeared on GuruFocus.