In an era where CEOs and senior executives are often criticised for making boatloads of money while their shareholders often suffer, it’s nice to see executives at content delivery network (CDN) Akamai put their money where their mouths are.
CEO Paul Sagan and Directors Leighton Thomson (Chief Scientist) and Georges Conrades each bought a substantial amount of AKAM stock on July 31, 2009 (at least for the average Joe like you and me). Here is the breakdown:
- Sagan bought 30,000 shares at an average price of $16.75, for a total purchase of $502,500.
- Thomson bought 100,000 shares at prices just shy of $17, for a total purchase of about $1.6 million.
- Conrades bought 66,250 shares for about $1.1 million.
Analysts and journalists have been concerned about Akamai’s prospects given what they see as increased competition and pricing pressure in the commoditized CDN market. As a result, the AKAM shares have decreased nearly 18% since July 23, 2009.
Apparently the company’s executives are a little more optimistic.
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