Fastly (NYSE:FSLY) CEO Sells $185,812.00 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 11,275 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $16.48, for a total transaction of $185,812.00. Following the sale, the chief executive officer directly owned 1,088,286 shares of the company’s stock, valued at approximately $17,934,953.28. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 18th, Charles Lacey Compton III sold 34,334 shares of Fastly stock. The stock was sold at an average price of $16.85, for a total transaction 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 transaction 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 transaction 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 transaction of $759,198.86.
• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The stock was sold at an average price of $20.94, for a total transaction of $1,532,933.64.
• On Thursday, February 19th, Charles Lacey Compton III sold 14,797 shares of Fastly stock. The stock was sold at an average price of $18.88, for a total transaction of $279,367.36.

Fastly Price Performance

NYSE FSLY opened at $16.32 on Friday. The company has a market cap of $2.55 billion, a P/E ratio of -17.00 and a beta of 0.49. Fastly, Inc. has a 1 year low of $6.29 and a 1 year high of $34.82. The company has a fifty day simple moving average of $24.88 and a 200 day simple moving average of $16.60. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On Fastly

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Fastly by 39.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock valued at $64,000 after buying an additional 627 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after buying an additional 633 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of Fastly by 8.4% in the 4th quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock valued at $122,000 after buying an additional 930 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Fastly by 3.2% in the 3rd quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock valued at $348,000 after buying an additional 1,253 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. raised its stake in shares of Fastly by 13.8% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock valued at $103,000 after buying an additional 1,465 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLY has been the subject of several research analyst reports. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research note on Tuesday, April 14th. William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Raymond James Financial upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Friday, May 8th. KeyCorp upped their target price 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. Finally, DA Davidson set a $13.00 target price on shares of Fastly in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.