Joseph Paul C, Executive Vice President of Global Sales at Akamai Technologies Inc . (NASDAQ:AKAM), recently sold 4,000 shares of the company’s common stock. The transaction, which took place on January 15, 2025, was executed at a price of $91.57 per share, totaling $366,280. Following this sale, Joseph Paul C retains ownership of 23,104 shares in the company. It is noted that this sale was conducted under a Rule 10b5-1 trading plan, which was adopted on May 19, 2024. With a strong free cash flow yield and robust financial health metrics, investors can access comprehensive insider trading patterns and 6 additional ProTips through InvestingPro's detailed research reports.
In other recent news, Akamai Technologies has made significant strides in its financial and strategic growth. The company recently acquired specific assets from Edgio, a move approved by the US Bankruptcy Court. Piper Sandler, Baird, and Evercore ISI have maintained positive ratings on Akamai's stock, highlighting expected growth in the company's security and compute segments, and the potential contribution of the Edgio acquisition to its revenue and earnings per share (EPS).
The Edgio acquisition is predicted to boost Akamai's revenue by $80-$100 million in 2025, and contribute an estimated $0.15-$0.20 to EPS. Evercore ISI's updated estimates for 2025 are $4.283 billion in revenue and $6.92 in EPS. Oppenheimer upgraded Akamai Technologies stock to Outperform, influenced by the recent changes in the content delivery network market dynamics and the acquisition of Edgio's customers.
Akamai Technologies recently reported a total revenue of $1.005 billion, marking a 4% increase year over year. Security revenue rose to $519 million, a 14% increase, and compute revenue grew by 28% to $167 million. However, Akamai has projected a weaker outlook for the fourth quarter due to ongoing challenges in its delivery business. Despite these challenges, Baird has maintained an Outperform rating on Akamai's stock, emphasizing the company's potential for continued double-digit growth.
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