Fastly (NYSE:FSLY) Insider Sells $1,102,488.90 in Stock

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 41,682 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $26.45, for a total value of $1,102,488.90. Following the completion of the sale, the insider directly owned 1,503,878 shares in the company, valued at approximately $39,777,573.10. This represents a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Fastly Price Performance

Shares of Fastly stock traded down $0.43 during trading on Thursday, reaching $26.45. 10,091,647 shares of the company’s stock were exchanged, compared to its average volume of 11,374,409. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $27.59. The company has a market cap of $4.02 billion, a P/E ratio of -27.55 and a beta of 0.87. The firm’s 50-day moving average price is $14.78 and its 200 day moving average price is $11.34.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FSLY. William Blair raised Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Citigroup lifted 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 price objective for the company in a research note on Monday, December 15th. Royal Bank Of Canada raised their target price on shares of Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Finally, DA Davidson set a $13.00 price target on shares of Fastly in a report on Thursday, February 12th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.14.

Institutional Investors Weigh In On Fastly

Several hedge funds have recently added to or reduced their stakes in FSLY. Caitong International Asset Management Co. Ltd bought a new stake in Fastly during the 4th quarter worth approximately $41,000. Align Financial LLC bought a new position in shares of Fastly during the fourth quarter valued at $41,000. Byrne Asset Management LLC acquired a new position in shares of Fastly during the third quarter worth $43,000. Quarry LP bought a new stake in shares of Fastly in the third quarter worth $49,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Fastly in the first quarter valued at $52,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.