Fastly (NYSE:FSLY) CFO Richard Wong Sells 6,315 Shares

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 6,315 shares of Fastly stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $16.35, for a total transaction of $103,250.25. Following the completion of the sale, the chief financial officer directly owned 1,239,301 shares of the company’s stock, valued at approximately $20,262,571.35. The trade was a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 Stock Performance

FSLY traded up $0.76 during 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. The firm has a market cap of $2.68 billion, a PE ratio of -17.83 and a beta of 0.49. Fastly, Inc. has a 12 month low of $6.29 and a 12 month high of $34.82. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $25.25 and a 200-day simple moving average of $16.48.

Analysts Set New Price Targets

FSLY has been the topic of several recent analyst reports. Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a report on Tuesday, April 14th. 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. Raymond James Financial upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Friday, May 8th. Finally, KeyCorp boosted their price objective on shares of Fastly from $14.00 to $27.00 and gave the stock 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.63.

Hedge Funds Weigh In On Fastly

A number of large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Fastly by 84.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after purchasing an additional 633 shares in the last quarter. Kestra Advisory Services LLC lifted its position 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 worth $122,000 after purchasing an additional 930 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Fastly by 3.2% during the third quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock worth $348,000 after purchasing an additional 1,253 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. lifted its position 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 worth $103,000 after purchasing an additional 1,465 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.