Fastly (NYSE:FSLY) CFO Richard Wong Sells 3,592 Shares of Stock

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

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

• On Tuesday, May 19th, Richard Wong sold 6,315 shares of Fastly stock. The stock was sold at an average price of $16.35, for a total transaction of $103,250.25.

Fastly Price Performance

Shares of FSLY opened at $17.12 on Thursday. The stock has a market capitalization of $2.68 billion, a P/E ratio of -17.83 and a beta of 0.49. Fastly, Inc. has a twelve month low of $6.29 and a twelve month high of $34.82. The company has a 50 day moving average of $25.16 and a 200-day moving average of $16.54. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Fastly News Summary

Here are the key news stories impacting Fastly this week:

• Positive Sentiment: Fastly’s compute and other revenue trends appear to be benefiting from AI-related demand, with a report noting “Other revenues” surged 67% to $8 million as edge compute usage grows and the company adds LLM-ready features. Article Title
• Neutral Sentiment: CEO Charles Lacey Compton III, CFO Richard Wong, CTO Artur Bergman, and insider Scott R. Lovett all disclosed stock sales over May 18-19. Several of the trades were made under pre-arranged Rule 10b5-1 plans, which can reduce concerns that the sales reflect a change in outlook, but the volume of selling may still weigh on sentiment. Article Title
• Negative Sentiment: The insider transactions were fairly broad-based, including multiple sales by the CEO, CFO, and CTO, which can be interpreted by investors as a lack of conviction at current levels even if they were pre-planned. Article Title

Hedge Funds Weigh In On Fastly

Several hedge funds and other institutional investors have recently made changes to their positions in FSLY. Penserra Capital Management LLC bought a new position in shares of Fastly in the third quarter valued at $61,864,000. Alyeska Investment Group L.P. boosted its position in Fastly by 2,795.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after purchasing an additional 4,623,767 shares during the period. First Trust Advisors LP boosted its position in Fastly by 100.5% during the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock worth $204,349,000 after purchasing an additional 3,524,763 shares during the period. Divisadero Street Capital Management LP bought a new position in Fastly during the third quarter worth $21,174,000. Finally, Balyasny Asset Management L.P. boosted its position in Fastly by 3,941.1% during the second 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 during the period. 79.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FSLY has been the subject of several research reports. Royal Bank Of Canada decreased their price target on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. KeyCorp raised their price target on shares of Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. DA Davidson set a $13.00 target price on shares of Fastly in a research note on Thursday, February 12th. Raymond James Financial raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Friday, May 8th. Finally, Evercore began coverage on shares of Fastly in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 target price for the company. Four investment 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. According to MarketBeat.com, Fastly currently has a consensus rating of “Hold” and an average target price of $22.63.

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.