Fastly (NYSE:FSLY) CEO Sells $226,417.48 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 12,916 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $17.53, for a total transaction of $226,417.48. Following the transaction, the chief executive officer owned 599,316 shares in the company, valued at $10,506,009.48. This represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, January 20th, Charles Lacey Compton III sold 4,638 shares of Fastly stock. The stock was sold at an average price of $8.81, for a total transaction of $40,860.78.
• On Friday, January 16th, Charles Lacey Compton III sold 9,044 shares of Fastly stock. The stock was sold at an average price of $9.07, for a total value of $82,029.08.

Fastly Stock Up 0.1%

Shares of NYSE:FSLY opened at $18.08 on Monday. The firm has a market capitalization of $2.70 billion, a P/E ratio of -18.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a 50 day moving average price of $10.79 and a 200-day moving average price of $9.58. Fastly, Inc. has a 52-week low of $4.65 and a 52-week high of $20.27.

Institutional Trading of Fastly

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Amundi lifted its stake in shares of 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 in the last quarter. AQR Capital Management LLC bought a new stake in shares of Fastly during the first quarter valued at approximately $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Fastly by 1.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock worth $2,950,000 after acquiring an additional 6,247 shares during the last quarter. Jones Financial Companies Lllp lifted its position in 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 acquiring an additional 55,118 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in 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 acquiring an additional 165,937 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Piper Sandler restated a “neutral” rating and set a $14.00 target price (up previously from $11.00) on shares of Fastly in a report on Thursday, February 12th. Royal Bank Of Canada lifted their price target on shares of Fastly from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Thursday, February 12th. Citigroup upped their price objective on shares of Fastly from $10.00 to $13.00 and gave the stock 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. Finally, DA Davidson set a $13.00 target price on shares of Fastly in a report on Thursday, February 12th. Three equities 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

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.