Insider Selling: Fastly (NYSE:FSLY) Insider Sells $115,224.69 in Stock

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 6,573 shares of Fastly stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $17.53, for a total transaction of $115,224.69. Following the sale, the insider owned 995,564 shares of the company’s stock, valued at approximately $17,452,236.92. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Fastly Stock Performance

FSLY stock opened at $18.08 on Monday. Fastly, Inc. has a twelve month low of $4.65 and a twelve month high of $20.27. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.70 billion, a P/E ratio of -18.83 and a beta of 1.03. The business’s fifty day moving average is $10.79 and its 200-day moving average is $9.58.

Analyst Ratings Changes

Several research analysts have recently weighed in on FSLY shares. Citigroup upped their price target on shares of Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 13th. KeyCorp raised shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price for the company in a research note on Monday, December 15th. Piper Sandler reissued a “neutral” rating and issued a $14.00 price target (up previously from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Oppenheimer initiated coverage on Fastly in a research report on Monday, November 17th. They set a “market perform” rating for the company. Finally, Wall Street Zen upgraded Fastly from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Fastly currently has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Align Financial LLC acquired a new position in Fastly in the 4th quarter valued at $41,000. Byrne Asset Management LLC bought a new stake in shares of Fastly in the third quarter valued at about $43,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Fastly in the fourth quarter valued at about $54,000. Quarry LP bought a new position in Fastly during the third quarter worth about $49,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Fastly in the 3rd quarter worth about $56,000. Institutional investors and hedge funds 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.