Fastly (NYSE:FSLY) CEO Charles Lacey Compton III Sells 73,206 Shares

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 73,206 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $20.94, for a total transaction of $1,532,933.64. Following the completion of the sale, the chief executive officer directly owned 875,831 shares of the company’s stock, valued at $18,339,901.14. This represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value 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 transaction 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 transaction 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 value of $82,029.08.

Fastly Stock Performance

Shares of NYSE FSLY traded up $0.68 during trading on Friday, hitting $21.12. The company had a trading volume of 4,962,401 shares, compared to its average volume of 11,068,288. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $21.75. The firm has a market capitalization of $3.21 billion, a P/E ratio of -22.00 and a beta of 0.88. The stock has a 50 day simple moving average of $12.39 and a 200 day simple moving average of $10.30.

Analysts Set New Price Targets

FSLY has been the subject of a number of recent research reports. Wall Street Zen upgraded Fastly from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. KeyCorp upgraded shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a report on Monday, December 15th. Citigroup lifted their price objective on shares of Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Piper Sandler restated a “neutral” rating and issued a $14.00 target price (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Finally, DA Davidson set a $13.00 price target on Fastly in a research report on Thursday, February 12th. Three 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 data from MarketBeat, Fastly has a consensus rating of “Hold” and an average target price of $13.14.

Hedge Funds Weigh In On Fastly

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Fastly by 3.4% during the third quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock worth $142,500,000 after acquiring an additional 554,909 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Fastly in the 2nd quarter valued at $171,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Fastly in the 2nd quarter valued at $741,000. Knights of Columbus Asset Advisors LLC purchased a new stake in Fastly in the third quarter valued at approximately $1,002,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Fastly by 6.3% in the second quarter. Geode Capital Management LLC now owns 3,212,253 shares of the company’s stock valued at $22,681,000 after acquiring an additional 189,423 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.