Fastly (NASDAQ:FSLY) CFO Richard Wong Sells 47,676 Shares of Stock

Fastly, Inc. (NASDAQ:FSLY) CFO Richard Wong sold 47,676 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $24.09, for a total value of $1,148,514.84. Following the completion of the transaction, the chief financial officer owned 1,043,610 shares of the company’s stock, valued at $25,140,564.90. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 18th, Richard Wong sold 148,015 shares of Fastly stock. The stock was sold at an average price of $28.61, for a total value of $4,234,709.15.

Fastly Price Performance

FSLY stock opened at $23.00 on Wednesday. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.33. Fastly, Inc. has a one year low of $7.05 and a one year high of $34.82. The firm has a market capitalization of $3.66 billion, a PE ratio of -43.40 and a beta of 0.34. The firm has a 50-day moving average of $21.42 and a two-hundred day moving average of $21.54.

Fastly (NASDAQ:FSLY) last announced its earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.07 by $0.08. The company had revenue of $183.32 million during the quarter, compared to analysts’ expectations of $173.94 million. Fastly had a negative net margin of 11.80% and a negative return on equity of 6.31%. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. On average, analysts forecast that Fastly, Inc. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On Fastly

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Fastly by 120.0% in the first quarter. Bank of America Corp DE now owns 1,269,369 shares of the company’s stock valued at $36,888,000 after purchasing an additional 692,459 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of Fastly in the first quarter worth $1,951,000. Castleark Management LLC bought a new stake in shares of Fastly during the 1st quarter worth $5,164,000. Range Financial Group LLC bought a new stake in shares of Fastly during the 1st quarter worth $1,667,000. Finally, Vanguard Group Inc. grew its stake in Fastly by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock valued at $172,825,000 after buying an additional 310,234 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analyst Ratings Changes

FSLY has been the topic of several research analyst reports. Freedom Capital upgraded shares of Fastly to a “strong-buy” rating in a research report on Thursday, July 16th. Raymond James Financial restated an “outperform” rating and issued a $29.00 target price on shares of Fastly in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fastly in a research report on Friday, August 7th. KeyCorp lifted their price target on Fastly from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Citigroup upped their price target on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given 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, the stock currently has an average rating of “Hold” and an average target price of $25.33.

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.