Rep. Jefferson Shreve Sells Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of Akamai Technologies, Inc. (NASDAQ:AKAM). In a filing disclosed on March 09th, the Representative disclosed that they had sold between $15,001 and $50,000 in Akamai Technologies stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

Akamai Technologies Stock Down 4.2 %

Shares of AKAM opened at $80.65 on Wednesday. The stock has a 50 day moving average price of $92.53 and a 200 day moving average price of $96.33. Akamai Technologies, Inc. has a one year low of $75.50 and a one year high of $110.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the acquisition, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 4,652 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the sale, the chief financial officer now owns 34,510 shares in the company, valued at $2,984,424.80. The trade was a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,176 shares of company stock valued at $3,759,934. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Institutional investors have recently bought and sold shares of the company. Siemens Fonds Invest GmbH purchased a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $2,455,000. Capital A Wealth Management LLC purchased a new position in Akamai Technologies in the 4th quarter valued at approximately $367,000. Mackenzie Financial Corp increased its position in shares of Akamai Technologies by 3.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock worth $232,198,000 after acquiring an additional 81,744 shares during the period. Forum Financial Management LP purchased a new position in Akamai Technologies in the fourth quarter valued at $252,000. Finally, Woodline Partners LP acquired a new stake in Akamai Technologies in the 4th quarter valued at about $458,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AKAM has been the topic of several recent research reports. Citigroup lowered their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Royal Bank of Canada lowered their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Craig Hallum cut Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Friday, February 21st. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and reduced their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Finally, Raymond James dropped their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.55.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email editor@ballotpedia.org to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.