Insider Selling: Fastly (NYSE:FSLY) Insider Sells 19,622 Shares of Stock

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 19,622 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.96, for a total transaction of $332,789.12. Following the sale, the insider directly owned 1,469,413 shares in the company, valued at $24,921,244.48. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Fastly Stock Performance

NYSE FSLY traded up $1.61 on Tuesday, hitting $20.69. 8,107,897 shares of the stock were exchanged, compared to its average volume of 11,651,188. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The business’s fifty day moving average is $23.99 and its 200 day moving average is $16.95. 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 $3.24 billion, a PE ratio of -19.51 and a beta of 0.49.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FSLY shares. Royal Bank Of Canada dropped their price objective on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. KeyCorp upped their price target on shares of Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Citigroup upped their price target on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Evercore initiated coverage on shares of Fastly in a research note on Tuesday, April 14th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, DA Davidson set a $13.00 price target on shares of Fastly in a research note on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.63.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP bought a new position in Fastly during the 3rd quarter worth approximately $21,174,000. Vanguard Group Inc. raised its holdings in Fastly by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock worth $142,500,000 after purchasing an additional 554,909 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Fastly during the 3rd quarter worth approximately $781,000. Algert Global LLC grew its position in shares of Fastly by 288.8% during the 3rd quarter. Algert Global LLC now owns 1,521,733 shares of the company’s stock worth $13,011,000 after buying an additional 1,130,293 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in shares of Fastly during the 3rd quarter worth approximately $61,864,000. 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.