Scott Lovett Sells 6,573 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 6,573 shares of Fastly stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $17.53, for a total transaction of $115,224.69. Following the sale, the insider owned 995,564 shares in the company, valued at approximately $17,452,236.92. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fastly Trading Up 0.1%

Shares of NYSE FSLY opened at $18.08 on Friday. The firm has a 50 day moving average price of $10.79 and a two-hundred day moving average price of $9.56. The stock has a market cap of $2.70 billion, a P/E ratio of -18.83 and a beta of 1.03. Fastly, Inc. has a 52-week low of $4.65 and a 52-week high of $20.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FSLY. Citigroup raised their price objective on Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Oppenheimer assumed coverage on shares of Fastly in a research report on Monday, November 17th. They set a “market perform” rating for the company. Wall Street Zen upgraded shares of Fastly from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada increased their price objective on shares of Fastly from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 12th. Three 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, the stock currently has an average rating of “Hold” and an average target price of $12.00.

Institutional Trading of Fastly

Several hedge funds have recently modified their holdings of FSLY. Align Financial LLC acquired a new position in shares of Fastly during the 4th quarter valued at $41,000. Byrne Asset Management LLC bought a new stake in Fastly in the third quarter valued at $43,000. Quarry LP bought a new stake in Fastly in the third quarter valued at $49,000. Geneos Wealth Management Inc. acquired a new position in shares of Fastly during the first quarter valued at about $52,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Fastly during the 4th quarter worth about $54,000. Institutional investors own 79.71% of the company’s stock.

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.