Insider Selling: Fastly (NYSE:FSLY) CEO Sells $578,527.90 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 34,334 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $578,527.90. Following the completion of the transaction, the chief executive officer directly owned 1,099,561 shares of the company’s stock, valued at approximately $18,527,602.85. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Charles Lacey Compton III sold 11,275 shares of Fastly stock. The stock was sold at an average price of $16.48, for a total transaction of $185,812.00.
• On Friday, April 17th, Charles Lacey Compton III sold 7,059 shares of Fastly stock. The stock was sold at an average price of $24.57, for a total transaction of $173,439.63.
• On Thursday, April 16th, Charles Lacey Compton III sold 22,474 shares of Fastly stock. The stock was sold at an average price of $24.33, for a total transaction of $546,792.42.
• On Thursday, March 5th, Charles Lacey Compton III sold 36,694 shares of Fastly stock. The stock was sold at an average price of $20.69, for a total transaction of $759,198.86.
• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The stock was 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 stock was sold at an average price of $18.88, for a total transaction of $279,367.36.

Fastly Stock Up 4.6%

NYSE FSLY traded up $0.76 on Wednesday, reaching $17.12. The company had a trading volume of 6,247,769 shares, compared to its average volume of 12,064,143. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -17.83 and a beta of 0.49. 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 1-year low of $6.29 and a 1-year high of $34.82. The company’s fifty day moving average is $25.25 and its 200-day moving average is $16.48.

Hedge Funds Weigh In On Fastly

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in shares of Fastly by 84.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after buying an additional 633 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Fastly in the 4th quarter valued at about $41,000. Align Financial LLC acquired a new stake in Fastly in the 4th quarter valued at about $41,000. Sound Income Strategies LLC acquired a new stake in Fastly in the 1st quarter valued at about $44,000. Finally, Quarry LP acquired a new stake in Fastly in the 3rd quarter valued at about $49,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on FSLY. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Citigroup increased their price objective on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. DA Davidson set a $13.00 price objective on shares of Fastly in a research note on Thursday, February 12th. KeyCorp increased their price objective 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. Finally, Raymond James Financial upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.63.

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.