Richard Wong Sells 3,592 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 3,592 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $60,525.20. Following the transaction, the chief financial officer owned 1,245,616 shares in the company, valued at approximately $20,988,629.60. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, May 19th, Richard Wong sold 6,315 shares of Fastly stock. The stock was sold at an average price of $16.35, for a total transaction of $103,250.25.

Fastly Stock Performance

Shares of FSLY opened at $16.40 on Friday. 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 firm has a market cap of $2.57 billion, a PE ratio of -17.08 and a beta of 0.49. The company’s 50 day simple moving average is $25.03 and its 200-day simple moving average is $16.60. Fastly, Inc. has a 12-month low of $6.29 and a 12-month high of $34.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FSLY shares. Royal Bank Of Canada lowered their target price on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, April 14th. KeyCorp lifted their price objective on shares of Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Citigroup lifted their price objective on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Piper Sandler lowered their price objective on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.63.

Hedge Funds Weigh In On Fastly

A number of hedge funds and other institutional investors have recently bought and sold shares of FSLY. PNC Financial Services Group Inc. grew its position in Fastly by 84.6% in the 1st 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 last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Fastly in the 4th quarter valued at $41,000. Align Financial LLC purchased a new position in Fastly in the 4th quarter valued at $41,000. Sound Income Strategies LLC purchased a new position in Fastly in the 1st quarter valued at $44,000. Finally, Quarry LP purchased a new stake in shares of Fastly during the 3rd quarter worth $49,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly News Summary

Here are the key news stories impacting Fastly this week:

• Positive Sentiment: Fastly’s business momentum may be improving from AI-driven usage, with reports that compute-related revenues and “other revenues” are benefiting as customers adopt edge computing and LLM-ready features. Article Title
• Neutral Sentiment: Several Fastly executives disclosed stock sales over May 18-19, including CEO Charles Lacey Compton III, CFO Richard Wong, CTO Artur Bergman, and insider Scott R. Lovett. Some sales were made under pre-arranged Rule 10b5-1 plans, which limits concerns about timing, but the broad selling still adds uncertainty for investors. Article Title
• Negative Sentiment: The most recent headlines focus on insider selling by Fastly’s top leadership, which can pressure sentiment because investors may view it as reduced conviction in the stock near current levels, even though the trades were relatively modest compared with their remaining ownership. Article Title

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.