Fastly (NASDAQ:FSLY) CFO Richard Wong Sells 47,676 Shares of Stock

Fastly, Inc. (NASDAQ:FSLY) CFO Richard Wong sold 47,676 shares of Fastly stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $24.09, for a total transaction of $1,148,514.84. Following the completion of the sale, the chief financial officer directly owned 1,043,610 shares in the company, valued at approximately $25,140,564.90. This represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 18th, Richard Wong sold 148,015 shares of Fastly stock. The stock was sold at an average price of $28.61, for a total transaction of $4,234,709.15.

Fastly Stock Performance

Shares of NASDAQ:FSLY traded up $0.06 during mid-day trading on Tuesday, reaching $23.00. The company had a trading volume of 3,489,105 shares, compared to its average volume of 9,635,057. Fastly, Inc. has a one year low of $7.05 and a one year high of $34.82. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $21.31 and its 200-day moving average price is $21.44. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of -43.40 and a beta of 0.34.

Fastly (NASDAQ:FSLY) last released its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. Fastly had a negative return on equity of 6.31% and a negative net margin of 11.80%.The business had revenue of $183.32 million during the quarter, compared to the consensus estimate of $173.94 million. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. As a group, equities research analysts anticipate that Fastly, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in shares of Fastly by 39.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock valued at $64,000 after purchasing an additional 627 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Fastly by 84.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after buying an additional 633 shares during the period. Kestra Advisory Services LLC grew its stake in shares of Fastly by 8.4% during the fourth quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock valued at $122,000 after buying an additional 930 shares during the last quarter. Parallax Volatility Advisers L.P. grew its stake in shares of Fastly by 13.8% during the third quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock valued at $103,000 after buying an additional 1,465 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new stake in shares of Fastly in the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Fastly from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 6th. Canaccord Genuity Group initiated coverage on shares of Fastly in a research note on Friday, July 17th. They set a “buy” rating and a $27.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fastly in a report on Friday, August 7th. Citigroup lifted their price target on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial reissued an “outperform” rating and set a $29.00 price objective on shares of Fastly in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.33.

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.