Charles Lacey Compton III Sells 36,694 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 36,694 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $20.69, for a total value of $759,198.86. Following the completion of the transaction, the chief executive officer owned 1,212,778 shares of the company’s stock, valued at $25,092,376.82. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• 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 shares were 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 stock was sold at an average price of $9.07, for a total value of $82,029.08.

Fastly Stock Performance

NYSE FSLY traded up $1.69 during trading hours on Monday, hitting $21.83. 10,991,104 shares of the company’s stock traded hands, compared to its average volume of 11,266,226. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $21.85. The firm has a market capitalization of $3.31 billion, a P/E ratio of -22.74 and a beta of 0.88. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $12.58 and its two-hundred day moving average price is $10.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in Fastly during the 4th quarter valued at approximately $41,000. Align Financial LLC bought a new position in shares of Fastly during the 4th quarter valued at approximately $41,000. Byrne Asset Management LLC purchased a new position in shares of Fastly in the third quarter valued at $43,000. Quarry LP bought a new stake in Fastly in the third quarter worth $49,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Fastly during the first quarter valued at $52,000. Institutional investors own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Oppenheimer started coverage on Fastly in a research report on Monday, November 17th. They set a “market perform” rating on the stock. KeyCorp upgraded shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price target for the company in a research report on Monday, December 15th. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Piper Sandler restated a “neutral” rating and set a $14.00 target price (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Finally, Citigroup upped their target price on shares of Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fastly presently has an average rating of “Hold” and a consensus target price of $13.14.

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.