Fastly (NYSE:FSLY) CFO Sells $103,250.25 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 6,315 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $16.35, for a total value of $103,250.25. Following the completion of the transaction, the chief financial officer directly owned 1,239,301 shares in the company, valued at $20,262,571.35. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, May 21st, Richard Wong sold 2,500 shares of Fastly stock. The stock was sold at an average price of $16.48, for a total value of $41,200.00.
• 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 value of $60,525.20.

Fastly Stock Down 0.5%

NYSE FSLY opened at $16.32 on Friday. The stock’s 50-day moving average price is $24.88 and its 200-day moving average price is $16.60. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 52 week low of $6.29 and a 52 week high of $34.82. The company has a market capitalization of $2.55 billion, a P/E ratio of -17.00 and a beta of 0.49.

Analyst Ratings Changes

Several research firms recently issued reports on FSLY. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Friday, May 8th. Craig Hallum cut Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research report on Tuesday, April 14th. Royal Bank Of Canada cut their target price on Fastly to $18.00 and set a “sector perform” rating for the company in a research report on Thursday, May 7th. Piper Sandler cut their target price on Fastly to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. 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 stock. According to MarketBeat, Fastly currently has a consensus rating of “Hold” and an average price target of $22.63.

Institutional Trading of Fastly

Several institutional investors have recently made changes to their positions in FSLY. Amundi grew its position in shares of Fastly by 11.3% during the first quarter. Amundi now owns 46,624 shares of the company’s stock worth $277,000 after purchasing an additional 4,724 shares in the last quarter. AQR Capital Management LLC purchased a new position in Fastly during the 1st quarter valued at approximately $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Fastly by 1.4% during the 1st 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 in the last quarter. Jones Financial Companies Lllp grew its holdings in Fastly by 963.6% during the 1st 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 in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Fastly by 7.8% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.