Insider Selling: Fastly (NYSE:FSLY) Insider Sells $250,104.55 in Stock

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 14,843 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $250,104.55. Following the completion of the sale, the insider owned 1,489,035 shares in the company, valued at approximately $25,090,239.75. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Fastly Price Performance

Fastly stock traded up $0.76 during midday trading on Wednesday, hitting $17.12. The company’s stock had a trading volume of 6,247,769 shares, compared to its average volume of 12,064,143. 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 stock’s 50-day moving average price is $25.25 and its 200-day moving average price is $16.48. Fastly, Inc. has a 12 month low of $6.29 and a 12 month high of $34.82. The company has a market capitalization of $2.68 billion, a PE ratio of -17.83 and a beta of 0.49.

Institutional Trading of Fastly

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Fastly by 120.0% during the 1st quarter. Bank of America Corp DE now owns 1,269,369 shares of the company’s stock worth $36,888,000 after buying an additional 692,459 shares during the period. Janus Henderson Group PLC raised its holdings in Fastly by 26.2% during the 1st quarter. Janus Henderson Group PLC now owns 67,050 shares of the company’s stock worth $1,948,000 after buying an additional 13,900 shares during the period. Sunbelt Securities Inc. grew its stake in Fastly by 10.0% during the 1st quarter. Sunbelt Securities Inc. now owns 77,944 shares of the company’s stock valued at $2,265,000 after acquiring an additional 7,076 shares in the last quarter. Amundi grew its stake in Fastly by 4.6% during the 1st quarter. Amundi now owns 48,441 shares of the company’s stock valued at $1,408,000 after acquiring an additional 2,129 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Fastly by 39.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock valued at $64,000 after acquiring an additional 627 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on FSLY. Evercore initiated coverage on shares of Fastly in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target on the stock. Royal Bank Of Canada cut their price objective on Fastly to $18.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. DA Davidson set a $13.00 price objective on Fastly in a report on Thursday, February 12th. KeyCorp boosted their price objective on Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a report on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.63.

Fastly Company Profile

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.