Fastly (NYSE:FSLY) Director Christopher Paisley Sells 1,000 Shares

Fastly, Inc. (NYSE:FSLY) Director Christopher Paisley sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.96, for a total value of $16,960.00. Following the sale, the director owned 5,227 shares in the company, valued at approximately $88,649.92. The trade was a 16.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Fastly Stock Up 8.4%

FSLY stock traded up $1.61 during midday trading on Tuesday, hitting $20.69. 8,107,897 shares of the company’s stock were exchanged, compared to its average volume of 11,651,188. The firm has a 50 day moving average price of $23.99 and a 200-day moving average price of $16.95. Fastly, Inc. has a 12-month low of $6.29 and a 12-month high of $34.82. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -21.55 and a beta of 0.49. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FSLY shares. 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 report on Thursday, May 7th. DA Davidson set a $13.00 price target on Fastly in a report on Thursday, February 12th. KeyCorp boosted their price target on Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Friday, May 8th. Finally, William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.63.

Institutional Investors Weigh In On Fastly

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Fastly by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after buying an additional 310,234 shares during the last quarter. Morgan Stanley grew its stake in Fastly by 14.7% during the 4th quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after buying an additional 1,071,222 shares during the last quarter. Penserra Capital Management LLC bought a new position in Fastly during the 3rd quarter worth $61,864,000. First Trust Advisors LP grew its stake in Fastly by 100.5% during the 1st quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock worth $204,349,000 after buying an additional 3,524,763 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in Fastly by 2,795.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after buying an additional 4,623,767 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

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.