Fastly (NYSE:FSLY) CEO Charles Lacey Compton III Sells 36,694 Shares

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 36,694 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $20.69, for a total transaction of $759,198.86. Following the completion of the transaction, the chief executive officer directly owned 1,212,778 shares of the company’s stock, valued at approximately $25,092,376.82. The trade was a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Charles Lacey Compton III also recently made the following trade(s):

• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The stock was sold at an average price of $20.94, for a total value of $1,532,933.64.
• On Thursday, February 19th, Charles Lacey Compton III sold 14,797 shares of Fastly stock. The shares were sold at an average price of $18.88, for a total value of $279,367.36.
• On Wednesday, February 18th, Charles Lacey Compton III sold 12,916 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total transaction of $226,417.48.
• On Tuesday, January 20th, Charles Lacey Compton III sold 4,638 shares of Fastly stock. The stock was sold at an average price of $8.81, for a total transaction of $40,860.78.
• On Friday, January 16th, Charles Lacey Compton III sold 9,044 shares of Fastly stock. The shares were sold at an average price of $9.07, for a total transaction of $82,029.08.

Fastly Trading Up 8.4%

Shares of FSLY traded up $1.69 during mid-day trading on Monday, reaching $21.83. 10,991,104 shares of the company’s stock traded hands, compared to its average volume of 11,266,226. The stock has a market cap of $3.31 billion, a P/E ratio of -22.74 and a beta of 0.88. The stock’s 50-day moving average is $12.58 and its two-hundred day moving average is $10.44. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $21.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently added to or reduced their stakes in the stock. Amundi raised its stake in shares of Fastly by 11.3% during the 1st quarter. Amundi now owns 46,624 shares of the company’s stock worth $277,000 after acquiring an additional 4,724 shares in the last quarter. AQR Capital Management LLC purchased a new position in Fastly in the first quarter worth $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Fastly by 1.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock worth $2,950,000 after purchasing an additional 6,247 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Fastly by 963.6% during the first quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock worth $385,000 after purchasing an additional 55,118 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Fastly by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after purchasing an additional 165,937 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Oppenheimer assumed coverage on Fastly in a research note on Monday, November 17th. They issued a “market perform” rating on the stock. Citigroup lifted their target price on Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Piper Sandler reissued a “neutral” rating and set a $14.00 price target (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Finally, KeyCorp upgraded Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.14.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.