Fastly (NYSE:FSLY) CFO Sells $103,250.25 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 6,315 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $16.35, for a total value of $103,250.25. Following the completion of the sale, the chief financial officer directly owned 1,239,301 shares in the company, valued at approximately $20,262,571.35. The trade was a 0.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, May 18th, Richard Wong sold 3,592 shares of Fastly stock. The shares were sold at an average price of $16.85, for a total value of $60,525.20.

Fastly Trading Up 4.6%

FSLY traded up $0.76 during trading on Wednesday, hitting $17.12. The company’s stock had a trading volume of 6,247,769 shares, compared to its average volume of 12,064,143. The firm’s 50 day moving average price is $25.25 and its 200-day moving average price is $16.48. 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 has a market cap of $2.68 billion, a PE 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FSLY. Amundi grew its position in Fastly by 11.3% in the first quarter. Amundi now owns 46,624 shares of the company’s stock worth $277,000 after buying an additional 4,724 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Fastly during the 1st quarter valued at $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Fastly by 1.4% during the 1st 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 period. Jones Financial Companies Lllp lifted its stake in shares of Fastly by 963.6% in the 1st quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock valued at $385,000 after purchasing an additional 55,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Fastly by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after purchasing an additional 165,937 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FSLY. Citigroup increased their target price on Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Piper Sandler lowered their price target on Fastly to $27.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada cut their price target on Fastly to $18.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research note on Friday, May 8th. Finally, DA Davidson set a $13.00 price target on shares of Fastly in a research report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fastly has a consensus rating of “Hold” and an average price target 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.