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Sundaram Mani, Executive Vice President and General Manager of Security at Akamai Technologies Inc . (NASDAQ:AKAM), recently sold a substantial amount of the company’s stock. According to a Form 4 filing with the Securities and Exchange Commission, Mani sold a total of 10,683 shares across three transactions on March 7, 2025. The sales occurred at prices ranging from $86.12 to $87.14 per share, amounting to a total value of $924,258. The stock, currently trading at $87.52, appears undervalued according to InvestingPro analysis, despite a challenging market environment with the stock down over 22% in the past year.
Additionally, Mani disposed of 1,612 shares at a price of $82.81 per share to cover tax obligations related to the vesting of restricted stock units (RSUs). These transactions were conducted under a pre-arranged trading plan established on December 4, 2024. The company, with a market capitalization of $13.15 billion, maintains strong profitability with a gross margin of 59.4%.
Following these transactions, Mani holds 23,988 shares of Akamai Technologies in indirect ownership through The MMMM Family Living Trust. For comprehensive insider trading analysis and additional insights, including 15 analyst revisions and exclusive ProTips, visit InvestingPro.
In other recent news, Akamai Technologies has been in the spotlight with several key developments. The company disclosed that CEO F. Thomson Leighton purchased approximately $3 million worth of Akamai’s common stock, a move seen as a strong indication of confidence in the company’s future prospects. This insider transaction was reported in an SEC filing, reflecting transparency and potentially signaling positive expectations to investors. Additionally, Akamai announced a new executive compensation plan for 2025, featuring stock-based bonuses and restricted stock units, aligning executive rewards with corporate performance and ESG goals.
Moreover, the company has introduced a Managed Container Service, enhancing its cloud platform capabilities across more than 700 cities globally. This service aims to improve application performance by allowing enterprises to deploy applications closer to users and data sources. In another corporate update, Akamai announced the resignation of board member Bill Wagner, who is leaving to become CEO at Semrush Holdings, Inc. The company has not yet announced a successor for Wagner’s position. These recent developments highlight Akamai’s ongoing strategic initiatives and the executive changes within the company.
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