Scott Lovett Sells 41,815 Shares of Fastly (NASDAQ:FSLY) Stock

Fastly, Inc. (NASDAQ:FSLY) insider Scott Lovett sold 41,815 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $24.64, for a total transaction of $1,030,321.60. Following the completion of the sale, the insider directly owned 1,281,583 shares in the company, valued at approximately $31,578,205.12. This represents a 3.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Fastly Trading Up 14.9%

NASDAQ:FSLY traded up $3.56 during trading hours on Monday, hitting $27.42. 9,780,145 shares of the company were exchanged, compared to its average volume of 9,215,616. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -51.74 and a beta of 0.36. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.33. Fastly, Inc. has a one year low of $7.74 and a one year high of $34.82. The company has a fifty day simple moving average of $23.10 and a 200 day simple moving average of $22.45.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Freedom Capital raised shares of Fastly to a “strong-buy” rating in a research report on Thursday, July 16th. Canaccord Genuity Group began coverage on shares of Fastly in a research note on Friday, July 17th. They issued a “buy” rating and a $27.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Fastly in a report on Friday, August 7th. Piper Sandler upped their price target on shares of Fastly from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, KeyCorp reiterated an “overweight” rating and set a $30.00 price target on shares of Fastly in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.33.

Institutional Trading of Fastly

Several hedge funds have recently modified their holdings of FSLY. First Trust Advisors LP boosted its stake in Fastly by 100.5% during the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock worth $204,349,000 after acquiring an additional 3,524,763 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Fastly by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,741,549 shares of the company’s stock valued at $79,620,000 after purchasing an additional 11,022 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Fastly by 120.0% during the first 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 period. SG Americas Securities LLC raised its holdings in shares of Fastly by 90.7% during the first quarter. SG Americas Securities LLC now owns 685,415 shares of the company’s stock valued at $19,918,000 after purchasing an additional 326,087 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Fastly during the 2nd quarter worth about $8,696,000. Institutional investors own 79.71% of the company’s stock.

Fastly Company Profile

Fastly, Inc is a cloud computing company that provides an edge cloud platform for delivering, securing and accelerating digital experiences. Its platform processes and serves applications, websites, APIs, streaming media and other internet content closer to end users, helping organizations improve performance, reliability and control.

Fastly’s product portfolio includes content delivery and application performance services, application programming interface (API) security, web application and bot protection, distributed denial-of-service (DDoS) mitigation, and edge compute capabilities.