Fastly (NYSE:FSLY) CFO Richard Wong Sells 2,500 Shares

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $16.48, for a total value of $41,200.00. Following the completion of the sale, the chief financial officer directly owned 1,239,301 shares in the company, valued at approximately $20,423,680.48. The trade was a 0.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Richard Wong also recently made the following trade(s):

• On Tuesday, May 19th, Richard Wong sold 6,315 shares of Fastly stock. The stock was sold at an average price of $16.35, for a total transaction of $103,250.25.
• On Monday, May 18th, Richard Wong sold 3,592 shares of Fastly stock. The stock was sold at an average price of $16.85, for a total transaction of $60,525.20.

Fastly Trading Down 0.5%

NYSE:FSLY traded down $0.08 on Friday, reaching $16.32. 5,935,868 shares of the company’s stock were exchanged, compared to its average volume of 11,932,309. 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 firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -17.00 and a beta of 0.49. The business has a fifty day moving average of $25.03 and a 200-day moving average of $16.60. Fastly, Inc. has a 52-week low of $6.29 and a 52-week high of $34.82.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FSLY shares. Piper Sandler cut their price objective on Fastly to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Citigroup upped their price objective on Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. DA Davidson set a $13.00 price objective on Fastly in a research report on Thursday, February 12th. Craig Hallum lowered Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, April 14th. Finally, Royal Bank Of Canada cut their price objective on Fastly to $18.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. Four 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 presently has a consensus rating of “Hold” and a consensus price target of $22.63.

Hedge Funds Weigh In On Fastly

Several large investors have recently bought and sold shares of FSLY. Amundi increased its holdings in Fastly by 11.3% in the first quarter. Amundi now owns 46,624 shares of the company’s stock valued at $277,000 after buying an additional 4,724 shares during the last quarter. AQR Capital Management LLC purchased a new position in Fastly in the first quarter valued at $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Fastly by 1.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock valued at $2,950,000 after buying an additional 6,247 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Fastly by 963.6% in the first quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock valued at $385,000 after buying an additional 55,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Fastly by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after buying an additional 165,937 shares during the last quarter. Hedge funds and other institutional investors 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.