Insider Selling: Fastly (NYSE:FSLY) CEO Sells $185,812.00 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 11,275 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $16.48, for a total transaction of $185,812.00. Following the sale, the chief executive officer directly owned 1,088,286 shares in the company, valued at approximately $17,934,953.28. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Monday, May 18th, Charles Lacey Compton III sold 34,334 shares of Fastly stock. The stock was sold at an average price of $16.85, for a total transaction of $578,527.90.
• On Friday, April 17th, Charles Lacey Compton III sold 7,059 shares of Fastly stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $18.88, for a total transaction of $279,367.36.

Fastly Price Performance

Shares of FSLY stock traded up $0.76 during mid-day trading on Wednesday, hitting $17.12. 6,247,769 shares of the stock were exchanged, compared to its average volume of 12,064,143. The firm has a fifty day moving average of $25.25 and a 200 day moving average of $16.48. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 52-week low of $6.29 and a 52-week high of $34.82. The company has a market cap of $2.68 billion, a PE ratio of -17.83 and a beta of 0.49.

Institutional Investors Weigh In On Fastly

Large investors have recently made changes to their positions in the stock. Amundi increased its holdings in shares of Fastly by 11.3% in the first quarter. Amundi now owns 46,624 shares of the company’s stock valued at $277,000 after purchasing an additional 4,724 shares during the last quarter. AQR Capital Management LLC purchased a new position in Fastly during the first quarter worth approximately $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 buying an additional 6,247 shares in the last quarter. Jones Financial Companies Lllp lifted its position in 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 buying an additional 55,118 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Fastly by 7.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock worth $14,573,000 after buying an additional 165,937 shares in the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Royal Bank Of Canada decreased their price target on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Citigroup raised their price target on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Piper Sandler decreased their price target on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, KeyCorp raised their price target on shares of Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Fastly currently has a consensus rating of “Hold” and a consensus price target of $22.63.

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.