Insider Selling: Fastly (NYSE:FSLY) CEO Sells 9,313 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 9,313 shares of Fastly stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $20.79, for a total value of $193,617.27. Following the transaction, the chief executive officer owned 1,063,945 shares of the company’s stock, valued at $22,119,416.55. The trade was a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 29th, Charles Lacey Compton III sold 15,028 shares of Fastly stock. The shares were sold at an average price of $16.96, for a total value of $254,874.88.
• On Tuesday, May 19th, Charles Lacey Compton III sold 11,275 shares of Fastly stock. The shares were sold at an average price of $16.48, for a total value of $185,812.00.
• On Monday, May 18th, Charles Lacey Compton III sold 34,334 shares of Fastly stock. The shares were sold at an average price of $16.85, for a total value of $578,527.90.
• On Friday, April 17th, Charles Lacey Compton III sold 7,059 shares of Fastly stock. The shares were sold at an average price of $24.57, for a total value of $173,439.63.
• On Thursday, April 16th, Charles Lacey Compton III sold 22,474 shares of Fastly stock. The shares were sold at an average price of $24.33, for a total value of $546,792.42.

Fastly Stock Performance

Shares of NYSE FSLY traded down $1.84 during trading on Friday, reaching $18.07. 7,975,609 shares of the company traded hands, compared to its average volume of 11,636,831. The firm’s fifty day simple moving average is $23.57 and its 200 day simple moving average is $17.14. The stock has a market cap of $2.83 billion, a P/E ratio of -18.82 and a beta of 0.37. Fastly, Inc. has a 12-month low of $6.29 and a 12-month high of $34.82. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Institutional Investors Weigh In On Fastly

Several institutional investors have recently bought and sold shares of FSLY. EverSource Wealth Advisors LLC increased its position in shares of Fastly by 39.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock worth $64,000 after acquiring an additional 627 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Fastly by 84.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after acquiring an additional 633 shares during the period. Kestra Advisory Services LLC increased its position in shares of Fastly by 8.4% during the fourth quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock worth $122,000 after acquiring an additional 930 shares during the period. Arizona State Retirement System increased its position in shares of Fastly by 3.2% during the third quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock worth $348,000 after acquiring an additional 1,253 shares during the period. Finally, Parallax Volatility Advisers L.P. increased its position in shares of Fastly by 13.8% during the third quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock worth $103,000 after acquiring an additional 1,465 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FSLY shares. DA Davidson set a $13.00 price target on Fastly in a research note on Thursday, February 12th. Piper Sandler cut their price target on Fastly to $27.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a research note on Friday, May 8th. Citigroup lifted their price target on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Evercore started coverage on Fastly in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target for the company. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.