- Akamai (AKAM -2%) CEO Tom Leighton discloses he bought 25K shares on Friday at a price of $45.28. The purchase comes on top of ones made in February and March.
- Altogether, Leighton has bought 105K shares since becoming CEO at the beginning of 2013.
- Shares continue to trade lower in response to the Verizon/EdgeCast deal. Raymond James (Market Perform) thinks the deal will "exacerbate pricing concerns" for Akamai's lower-margin media delivery sales (48% of revenue, but gradually declining).
- Akamai mentioned on its Q3 CC (transcript) it's in the midst of price negotiations with a major media client. RJ thinks the client is Apple.
- Wells Fargo (Outperform) is less worried about Verizon's move. The firm notes telco acquisitions of Web hosting/cloud infrastructure companies (including Verizon's acquisition of Terremark) failed to hurt independent players.
Akamai CEO buys more shares; sell-side debates Verizon/EdgeCast
Dec 9 2013, 13:26 ET