Richard Wong Sells 2,500 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $16.48, for a total value of $41,200.00. Following the completion of the sale, the chief financial officer owned 1,239,301 shares in the company, valued at $20,423,680.48. This represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Richard Wong also recently made the following trade(s):

• On Tuesday, May 19th, Richard Wong sold 6,315 shares of Fastly stock. The shares were sold at an average price of $16.35, for a total transaction of $103,250.25.
• On Monday, May 18th, Richard Wong sold 3,592 shares of Fastly stock. The shares were sold at an average price of $16.85, for a total transaction of $60,525.20.

Fastly Price Performance

NYSE FSLY opened at $16.32 on Friday. The company has a market cap of $2.55 billion, a PE ratio of -17.00 and a beta of 0.49. Fastly, Inc. has a 52 week low of $6.29 and a 52 week high of $34.82. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $24.88 and its two-hundred day simple moving average is $16.60.

Institutional Investors Weigh In On Fastly

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Fastly by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after buying an additional 310,234 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Fastly by 14.7% in the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after buying an additional 1,071,222 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Fastly in the third quarter worth about $61,864,000. First Trust Advisors LP lifted its holdings in shares of Fastly by 100.5% in the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock worth $204,349,000 after buying an additional 3,524,763 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Fastly by 2,795.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after buying an additional 4,623,767 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on FSLY shares. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Royal Bank Of Canada dropped their price objective on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. Piper Sandler dropped their price objective on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Evercore started coverage on shares of Fastly in a report on Tuesday, April 14th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, KeyCorp upped their price objective on shares of Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Fastly currently has a consensus rating of “Hold” and a consensus target price of $22.63.

Fastly Company Profile

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.