Fastly (NASDAQ:FSLY) CFO Richard Wong Sells 148,015 Shares

Fastly, Inc. (NASDAQ:FSLY) CFO Richard Wong sold 148,015 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $28.61, for a total value of $4,234,709.15. Following the sale, the chief financial officer owned 1,091,286 shares of the company’s stock, valued at $31,221,692.46. This trade represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Fastly Stock Down 4.0%

Shares of Fastly stock traded down $0.95 on Thursday, reaching $22.71. The stock had a trading volume of 5,761,319 shares, compared to its average volume of 9,739,349. The company has a 50 day moving average price of $21.01 and a 200 day moving average price of $21.14. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.33. Fastly, Inc. has a 1 year low of $7.01 and a 1 year high of $34.82. The stock has a market capitalization of $3.62 billion, a P/E ratio of -42.85 and a beta of 0.34.

Fastly (NASDAQ:FSLY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.07 by $0.08. Fastly had a negative return on equity of 6.31% and a negative net margin of 11.80%.The firm had revenue of $183.32 million during the quarter, compared to analyst estimates of $173.94 million. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. As a group, equities research analysts forecast that Fastly, Inc. will post -0.29 EPS for the current year.

Institutional Trading of Fastly

Institutional investors have recently added to or reduced their stakes in the stock. Convergence Investment Partners LLC purchased a new stake in shares of Fastly in the 1st quarter valued at $1,951,000. Bank of America Corp DE increased its position in shares of Fastly by 120.0% in the 1st quarter. Bank of America Corp DE now owns 1,269,369 shares of the company’s stock valued at $36,888,000 after purchasing an additional 692,459 shares during the last quarter. Castleark Management LLC acquired a new stake in Fastly in the first quarter valued at $5,164,000. Range Financial Group LLC acquired a new stake in shares of Fastly during the 1st quarter worth about $1,667,000. Finally, Vanguard Group Inc. lifted its position in shares of Fastly by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after buying an additional 310,234 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on Fastly from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 6th. Evercore reissued an “outperform” rating on shares of Fastly in a research note on Thursday, August 6th. Freedom Capital raised shares of Fastly to a “strong-buy” rating in a research note on Thursday, July 16th. Raymond James Financial reiterated an “outperform” rating and issued a $29.00 price objective on shares of Fastly in a report on Thursday, August 6th. Finally, Canaccord Genuity Group started coverage on shares of Fastly in a research note on Friday, July 17th. They issued a “buy” rating and a $27.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fastly presently has an average rating of “Hold” and a consensus target price of $25.33.

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.