Fastly (NYSE:FSLY) CFO Sells $60,525.20 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 3,592 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $60,525.20. Following the sale, the chief financial officer directly owned 1,245,616 shares in the company, valued at approximately $20,988,629.60. The trade was a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.

Fastly Trading Up 4.6%

Shares of Fastly stock traded up $0.76 during trading on Wednesday, hitting $17.12. The company’s stock had a trading volume of 6,247,769 shares, compared to its average volume of 12,064,143. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. Fastly, Inc. has a 52 week low of $6.29 and a 52 week high of $34.82. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -17.83 and a beta of 0.49. The stock has a 50-day moving average price of $25.25 and a two-hundred day moving average price of $16.48.

Institutional Trading of Fastly

Institutional investors have recently bought and sold shares of the company. Divisadero Street Capital Management LP bought a new stake in Fastly during the third quarter valued at $21,174,000. Vanguard Group Inc. raised its holdings in shares of Fastly by 3.4% during the third quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock valued at $142,500,000 after purchasing an additional 554,909 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of Fastly during the third quarter valued at about $781,000. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Fastly during the third quarter valued at about $1,002,000. Finally, Hussman Strategic Advisors Inc. raised its holdings in shares of Fastly by 100.0% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 210,000 shares of the company’s stock worth $1,796,000 after acquiring an additional 105,000 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on FSLY. Citigroup boosted their price objective on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Piper Sandler reduced their price objective on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, April 14th. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada cut their price target on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. Four 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.