Scott Lovett Sells 19,624 Shares of Fastly (NASDAQ:FSLY) Stock

Fastly, Inc. (NASDAQ:FSLY) insider Scott Lovett sold 19,624 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $23.00, for a total value of $451,352.00. Following the transaction, the insider directly owned 1,358,218 shares of the company’s stock, valued at $31,239,014. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Fastly Stock Performance

Shares of Fastly stock traded down $0.34 on Wednesday, reaching $20.43. 3,560,297 shares of the company were exchanged, compared to its average volume of 9,424,438. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of -38.55 and a beta of 0.36. Fastly, Inc. has a 1-year low of $7.05 and a 1-year high of $34.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.36 and a current ratio of 3.36. The company’s 50-day moving average is $21.97 and its two-hundred day moving average is $22.04.

Fastly (NASDAQ:FSLY) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. The business had revenue of $183.32 million during the quarter, compared to analyst estimates of $173.94 million. Fastly had a negative return on equity of 6.31% and a negative net margin of 11.80%.Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. As a group, research analysts expect that Fastly, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FSLY shares. Piper Sandler upped their price target on shares of Fastly from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Citigroup lifted their price objective on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fastly in a research note on Friday, August 7th. Royal Bank Of Canada upped their target price on shares of Fastly from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 6th. Finally, Raymond James Financial restated an “outperform” rating and issued a $29.00 price target on shares of Fastly in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $25.33.

Hedge Funds Weigh In On Fastly

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position 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 valued at $40,000 after purchasing an additional 633 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fastly in the fourth quarter valued at $41,000. Align Financial LLC acquired a new stake in shares of Fastly in the fourth quarter valued at $41,000. Sound Income Strategies LLC bought a new position in Fastly during the first quarter valued at about $44,000. Finally, Quarry LP bought a new position in Fastly during the third quarter valued at about $49,000. 79.71% of the stock is owned by institutional investors.

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.