Insider Selling: Fastly (NYSE:FSLY) CEO Sells 15,028 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 15,028 shares of Fastly stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.96, for a total value of $254,874.88. Following the completion of the sale, the chief executive officer directly owned 1,073,258 shares in the company, valued at approximately $18,202,455.68. This represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, May 19th, Charles Lacey Compton III sold 11,275 shares of Fastly stock. The stock was 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 stock was 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 stock was sold at an average price of $24.33, for a total value of $546,792.42.
• On Thursday, March 5th, Charles Lacey Compton III sold 36,694 shares of Fastly stock. The stock was sold at an average price of $20.69, for a total value of $759,198.86.
• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The shares were sold at an average price of $20.94, for a total value of $1,532,933.64.

Fastly Stock Performance

Shares of Fastly stock traded up $1.61 during mid-day trading on Tuesday, hitting $20.69. 8,107,897 shares of the stock were exchanged, compared to its average volume of 11,651,188. Fastly, Inc. has a 12 month low of $6.29 and a 12 month high of $34.82. The company has a 50-day simple moving average of $23.99 and a 200 day simple moving average of $16.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $3.24 billion, a P/E ratio of -21.55 and a beta of 0.49.

Analysts Set New Price Targets

FSLY has been the subject of several recent research reports. Citigroup boosted their price target 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. Raymond James Financial upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Friday, May 8th. 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 report on Thursday, May 7th. DA Davidson set a $13.00 price objective on shares of Fastly in a research report on Thursday, February 12th. Finally, Evercore assumed coverage on shares of Fastly in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target on the stock. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.63.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Fastly by 84.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after purchasing an additional 633 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Fastly during the fourth quarter valued at $41,000. Align Financial LLC purchased a new position in Fastly during the fourth quarter valued at $41,000. Sound Income Strategies LLC purchased a new position in Fastly during the first quarter valued at $44,000. Finally, Quarry LP purchased a new position in Fastly during the third quarter valued at $49,000. 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.