Fastly (NYSE:FSLY) Insider Scott Lovett Sells 41,682 Shares

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 41,682 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $26.45, for a total transaction of $1,102,488.90. Following the completion of the transaction, the insider directly owned 1,503,878 shares in the company, valued at $39,777,573.10. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fastly Trading Down 1.6%

Shares of Fastly stock opened at $26.45 on Friday. 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 stock’s 50 day simple moving average is $15.11 and its 200-day simple moving average is $11.44. The stock has a market cap of $4.02 billion, a P/E ratio of -27.55 and a beta of 0.87. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $27.59.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FSLY shares. Piper Sandler reissued a “neutral” rating and set a $14.00 price objective (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Royal Bank Of Canada boosted their price target on shares of Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. KeyCorp raised shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Monday, December 15th. Finally, DA Davidson set a $13.00 target price on shares of Fastly in a research note on Thursday, February 12th. Three 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.14.

Institutional Investors Weigh In On Fastly

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Amundi grew its holdings in shares of 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 during the period. AQR Capital Management LLC purchased a new stake in Fastly in the 1st quarter valued at about $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Fastly by 1.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock valued at $2,950,000 after buying an additional 6,247 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Fastly by 963.6% in the first quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock valued at $385,000 after buying an additional 55,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Fastly by 7.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock worth $14,573,000 after buying an additional 165,937 shares during the period. 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.