Insider Selling: Fastly (NYSE:FSLY) CEO Sells 14,797 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 14,797 shares of Fastly stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $18.88, for a total value of $279,367.36. Following the sale, the chief executive officer directly owned 584,519 shares of the company’s stock, valued at approximately $11,035,718.72. This represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, February 18th, Charles Lacey Compton III sold 12,916 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total value of $226,417.48.
• On Tuesday, January 20th, Charles Lacey Compton III sold 4,638 shares of Fastly stock. The stock was sold at an average price of $8.81, for a total value of $40,860.78.
• On Friday, January 16th, Charles Lacey Compton III sold 9,044 shares of Fastly stock. The shares were sold at an average price of $9.07, for a total transaction of $82,029.08.

Fastly Stock Performance

NYSE:FSLY traded down $1.08 during mid-day trading on Monday, hitting $17.00. The company’s stock had a trading volume of 17,775,696 shares, compared to its average volume of 11,103,335. The business’s fifty day moving average is $10.79 and its two-hundred day moving average is $9.58. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -17.71 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. Fastly, Inc. has a 1 year low of $4.65 and a 1 year high of $20.27.

Analyst Upgrades and Downgrades

FSLY has been the topic of several analyst reports. William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Oppenheimer initiated coverage on shares of Fastly in a research note on Monday, November 17th. They set a “market perform” rating on the stock. Royal Bank Of Canada lifted their price target on Fastly from $10.00 to $12.00 and gave the company a “sector perform” rating in a research note on Thursday, February 12th. Piper Sandler reiterated a “neutral” rating and set a $14.00 price target (up previously from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Finally, Citigroup raised their price objective on Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Three 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.00.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new position in Fastly in the 3rd quarter valued at $61,864,000. 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 valued at $48,754,000 after acquiring an additional 4,623,767 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in Fastly in the 3rd quarter valued at about $21,174,000. Marshall Wace LLP raised its holdings in Fastly by 115.2% in the 2nd quarter. Marshall Wace LLP now owns 3,385,167 shares of the company’s stock valued at $23,899,000 after acquiring an additional 1,811,935 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in Fastly by 3,941.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock worth $9,383,000 after purchasing an additional 1,296,119 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.