Fastly (NYSE:FSLY) CFO Richard Wong Sells 6,315 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 6,315 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $16.35, for a total transaction of $103,250.25. Following the completion of the sale, the chief financial officer owned 1,239,301 shares in the company, valued at $20,262,571.35. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, May 18th, Richard Wong sold 3,592 shares of Fastly stock. The stock was sold at an average price of $16.85, for a total transaction of $60,525.20.

Fastly Price Performance

Fastly stock opened at $17.12 on Thursday. Fastly, Inc. has a 52 week low of $6.29 and a 52 week high of $34.82. 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 firm’s 50-day simple moving average is $25.16 and its 200 day simple moving average is $16.54. The firm has a market capitalization of $2.68 billion, a PE ratio of -17.83 and a beta of 0.49.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Divisadero Street Capital Management LP purchased a new position in Fastly in the third quarter valued at approximately $21,174,000. Vanguard Group Inc. raised its holdings in Fastly by 3.4% in the third quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock valued at $142,500,000 after buying an additional 554,909 shares during the period. Picton Mahoney Asset Management purchased a new position in Fastly in the third quarter valued at approximately $781,000. Knights of Columbus Asset Advisors LLC purchased a new position in Fastly in the third quarter valued at approximately $1,002,000. Finally, Hussman Strategic Advisors Inc. raised its holdings in Fastly by 100.0% in the third quarter. Hussman Strategic Advisors Inc. now owns 210,000 shares of the company’s stock valued at $1,796,000 after buying an additional 105,000 shares during the period. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

More Fastly News

Here are the key news stories impacting Fastly this week:

• Positive Sentiment: Fastly’s compute and other revenue trends appear to be benefiting from AI-related demand, with a report noting “Other revenues” surged 67% to $8 million as edge compute usage grows and the company adds LLM-ready features. Article Title
• Neutral Sentiment: CEO Charles Lacey Compton III, CFO Richard Wong, CTO Artur Bergman, and insider Scott R. Lovett all disclosed stock sales over May 18-19. Several of the trades were made under pre-arranged Rule 10b5-1 plans, which can reduce concerns that the sales reflect a change in outlook, but the volume of selling may still weigh on sentiment. Article Title
• Negative Sentiment: The insider transactions were fairly broad-based, including multiple sales by the CEO, CFO, and CTO, which can be interpreted by investors as a lack of conviction at current levels even if they were pre-planned. Article Title

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. Piper Sandler reduced their target price on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Evercore assumed coverage on shares of Fastly in a report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 target price on the stock. Raymond James Financial upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a report on Friday, May 8th. Finally, KeyCorp upped their target price on shares of Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.