Insider Selling: Fastly (NYSE:FSLY) CFO Sells $60,525.20 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 3,592 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $16.85, for a total transaction of $60,525.20. Following the completion of the sale, the chief financial officer directly owned 1,245,616 shares in the company, valued at $20,988,629.60. This trade represents a 0.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, May 21st, Richard Wong sold 2,500 shares of Fastly stock. The shares were sold at an average price of $16.48, for a total transaction of $41,200.00.
• On Tuesday, May 19th, Richard Wong sold 6,315 shares of Fastly stock. The shares were sold at an average price of $16.35, for a total transaction of $103,250.25.

Fastly Stock Down 0.5%

Shares of NYSE FSLY opened at $16.32 on Friday. The firm’s 50-day moving average is $24.88 and its two-hundred day moving average is $16.60. 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 market capitalization of $2.55 billion, a PE ratio of -17.00 and a beta of 0.49. Fastly, Inc. has a 12-month low of $6.29 and a 12-month high of $34.82.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research report on Thursday, May 7th. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Tuesday, April 14th. Raymond James Financial raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research report on Friday, May 8th. KeyCorp boosted their price objective 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, Citigroup boosted their price objective on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.63.

Institutional Trading of Fastly

A number of institutional investors have recently modified their holdings of the company. Amundi increased its position in Fastly by 11.3% during the 1st quarter. Amundi now owns 46,624 shares of the company’s stock worth $277,000 after purchasing an additional 4,724 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Fastly during the first quarter worth approximately $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Fastly by 1.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock worth $2,950,000 after acquiring an additional 6,247 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Fastly by 963.6% in the 1st quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock valued at $385,000 after acquiring an additional 55,118 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Fastly by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after acquiring an additional 165,937 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.