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Investing.com -- Akamai Technologies (NASDAQ:AKAM) shares rose 2.5% in after-hours trading on Thursday following news that CEO F. Thomson Leighton purchased approximately $3 million of the company’s common stock on the open market.
On February 27, 2025, Leighton acquired 37,670 shares of Akamai Technologies at prices ranging from $79.5574 to $80.147. The transaction increased his direct ownership to 137,342 shares, with an additional 2,342,621 shares and 108,358 shares held indirectly.
The CEO’s substantial investment in the company’s stock is often viewed as a strong vote of confidence in the firm’s prospects and financial health. Such insider purchases can signal to investors that company executives believe the stock is undervalued or that there are positive developments ahead that could drive the stock’s value higher.
While the exact reasons behind Leighton’s purchase were not disclosed, insider buying of this magnitude is typically seen as a bullish indicator by the market. The move comes without any specific analyst quotes provided, leaving the market to interpret the CEO’s actions as a standalone positive sign.
The increase in share price after-hours reflects the market’s initial reaction to the news, as investors often consider insider transactions when assessing a stock’s potential. Akamai Technologies’ stock movement may continue to be influenced by perceptions of insider confidence and any future disclosures related to company performance or strategy.
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