Fastly (NYSE:FSLY) CEO Sells $578,527.90 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 34,334 shares of Fastly stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $16.85, for a total transaction of $578,527.90. Following the sale, the chief executive officer owned 1,099,561 shares of the company’s stock, valued at approximately $18,527,602.85. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Lacey Compton III also recently made the following trade(s):

• On Tuesday, May 19th, Charles Lacey Compton III sold 11,275 shares of Fastly stock. The shares were sold at an average price of $16.48, for a total transaction of $185,812.00.
• On Friday, April 17th, Charles Lacey Compton III sold 7,059 shares of Fastly stock. The shares were sold at an average price of $24.57, for a total transaction of $173,439.63.
• On Thursday, April 16th, Charles Lacey Compton III sold 22,474 shares of Fastly stock. The shares were sold at an average price of $24.33, for a total transaction of $546,792.42.
• On Thursday, March 5th, Charles Lacey Compton III sold 36,694 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total transaction of $759,198.86.
• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The shares were sold at an average price of $20.94, for a total transaction of $1,532,933.64.
• On Thursday, February 19th, Charles Lacey Compton III sold 14,797 shares of Fastly stock. The shares were sold at an average price of $18.88, for a total transaction of $279,367.36.

Fastly Trading Down 0.5%

Shares of Fastly stock opened at $16.32 on Friday. Fastly, Inc. has a 1 year low of $6.29 and a 1 year high of $34.82. The firm has a market cap of $2.55 billion, a PE ratio of -17.00 and a beta of 0.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The company has a 50 day simple moving average of $24.88 and a two-hundred day simple moving average of $16.60.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FSLY. DA Davidson set a $13.00 target price on shares of Fastly in a research report on Thursday, February 12th. Evercore began coverage on shares of Fastly in a research report on Tuesday, April 14th. They set an “outperform” rating and a $24.00 target price for the company. Piper Sandler dropped their target price on shares of Fastly to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. KeyCorp lifted their target price on shares of Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.63.

Institutional Investors Weigh In On Fastly

A number of hedge funds have recently made changes to their positions in FSLY. PNC Financial Services Group Inc. lifted its holdings in shares of Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after acquiring an additional 633 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Fastly in the 4th quarter worth approximately $41,000. Align Financial LLC bought a new stake in shares of Fastly in the 4th quarter worth approximately $41,000. Sound Income Strategies LLC bought a new stake in shares of Fastly in the 1st quarter worth approximately $44,000. Finally, Quarry LP bought a new stake in shares of Fastly in the 3rd quarter worth approximately $49,000. 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.