Fastly (NYSE:FSLY) CEO Sells $578,527.90 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 34,334 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $16.85, for a total transaction of $578,527.90. Following the completion of the sale, the chief executive officer owned 1,099,561 shares of the company’s stock, valued at $18,527,602.85. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Charles Lacey Compton III sold 11,275 shares of Fastly stock. The shares were sold at an average price of $16.48, for a total transaction of $185,812.00.
• On Friday, April 17th, Charles Lacey Compton III sold 7,059 shares of Fastly stock. The shares were sold at an average price of $24.57, for a total transaction of $173,439.63.
• On Thursday, April 16th, Charles Lacey Compton III sold 22,474 shares of Fastly stock. The shares were sold at an average price of $24.33, for a total transaction of $546,792.42.
• On Thursday, March 5th, Charles Lacey Compton III sold 36,694 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total transaction of $759,198.86.
• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The shares were sold at an average price of $20.94, for a total transaction 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 transaction of $279,367.36.

Fastly Stock Performance

NYSE:FSLY traded up $0.76 during mid-day trading on Wednesday, hitting $17.12. The stock had a trading volume of 6,247,769 shares, compared to its average volume of 12,064,143. Fastly, Inc. has a twelve month low of $6.29 and a twelve month high of $34.82. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -17.83 and a beta of 0.49. The company’s 50 day simple moving average is $25.25 and its 200 day simple moving average is $16.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Fastly by 120.0% in the 1st quarter. Bank of America Corp DE now owns 1,269,369 shares of the company’s stock valued at $36,888,000 after acquiring an additional 692,459 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Fastly by 26.2% during the first quarter. Janus Henderson Group PLC now owns 67,050 shares of the company’s stock worth $1,948,000 after purchasing an additional 13,900 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Fastly by 10.0% during the first quarter. Sunbelt Securities Inc. now owns 77,944 shares of the company’s stock worth $2,265,000 after purchasing an additional 7,076 shares during the period. Amundi increased its holdings in shares of Fastly by 4.6% during the first quarter. Amundi now owns 48,441 shares of the company’s stock worth $1,408,000 after purchasing an additional 2,129 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Fastly by 39.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock worth $64,000 after purchasing an additional 627 shares during the period. 79.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in 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. Raymond James Financial raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a report on Friday, May 8th. Citigroup increased their price target on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Piper Sandler lowered their price target on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Evercore started coverage on shares of Fastly in a report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.