Fastly (NYSE:FSLY) Insider Sells $250,104.55 in Stock

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 14,843 shares of Fastly stock in a transaction on Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $250,104.55. Following the completion of the transaction, the insider directly owned 1,489,035 shares of the company’s stock, valued at approximately $25,090,239.75. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fastly Stock Performance

FSLY stock traded up $0.76 during mid-day trading on Wednesday, reaching $17.12. The company had a trading volume of 6,247,769 shares, compared to its average volume of 12,064,143. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $2.68 billion, a P/E ratio of -17.83 and a beta of 0.49. Fastly, Inc. has a one year low of $6.29 and a one year high of $34.82. The stock’s 50-day simple moving average is $25.25 and its two-hundred day simple moving average is $16.48.

Institutional Investors Weigh In On Fastly

A number of hedge funds and other institutional investors have recently modified their holdings of FSLY. Penserra Capital Management LLC bought a new stake in shares of Fastly during the third quarter valued at about $61,864,000. Alyeska Investment Group L.P. raised its stake in shares of Fastly by 2,795.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock valued at $48,754,000 after purchasing an additional 4,623,767 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Fastly by 100.5% during the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock valued at $204,349,000 after purchasing an additional 3,524,763 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in shares of Fastly during the third quarter valued at about $21,174,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of Fastly by 3,941.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock valued at $9,383,000 after purchasing an additional 1,296,119 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FSLY. DA Davidson set a $13.00 target price on Fastly in a research note on Thursday, February 12th. KeyCorp raised their target price on Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Craig Hallum cut Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research note on Tuesday, April 14th. Royal Bank Of Canada cut their target price on Fastly to $18.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Finally, Citigroup raised their target price on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.