Fastly (NYSE:FSLY) Insider Sells $1,102,488.90 in Stock

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 41,682 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $26.45, for a total transaction of $1,102,488.90. Following the completion of the transaction, the insider directly owned 1,503,878 shares in the company, valued at approximately $39,777,573.10. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fastly Stock Performance

Shares of Fastly stock traded down $0.43 on Thursday, hitting $26.45. The stock had a trading volume of 10,091,647 shares, compared to its average volume of 11,374,409. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -27.55 and a beta of 0.87. 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 twelve month low of $4.65 and a twelve month high of $27.59. The business’s 50 day moving average is $14.78 and its two-hundred day moving average is $11.34.

Institutional Investors Weigh In On Fastly

Large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in Fastly in the 4th quarter valued at about $41,000. Align Financial LLC bought a new stake in shares of Fastly during the 4th quarter worth approximately $41,000. Byrne Asset Management LLC acquired a new stake in shares of Fastly during the 3rd quarter worth approximately $43,000. Quarry LP acquired a new stake in shares of Fastly during the 3rd quarter worth approximately $49,000. Finally, Geneos Wealth Management Inc. bought a new position in Fastly in the first quarter valued at approximately $52,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSLY has been the subject of a number of research reports. Royal Bank Of Canada lifted their target price on Fastly from $12.00 to $20.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Citigroup raised their price target on shares of Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Piper Sandler restated a “neutral” rating and set a $14.00 target price (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Finally, KeyCorp upgraded shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price target for the company in a research report on Monday, December 15th. Three equities research 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. Based on data from MarketBeat, Fastly currently has a consensus rating of “Hold” and an average target price of $13.14.

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.