Insider Selling: Fastly (NYSE:FSLY) CEO Sells $193,617.27 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 9,313 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.79, for a total value of $193,617.27. Following the sale, the chief executive officer directly owned 1,063,945 shares of the company’s stock, valued at approximately $22,119,416.55. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 Friday, May 29th, Charles Lacey Compton III sold 15,028 shares of Fastly stock. The stock was sold at an average price of $16.96, for a total value of $254,874.88.
• 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 stock was 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.

Fastly Stock Performance

NYSE:FSLY opened at $18.07 on Monday. The stock has a fifty day moving average price of $23.34 and a two-hundred day moving average price of $17.19. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -18.82 and a beta of 0.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Fastly, Inc. has a 1 year low of $6.29 and a 1 year high of $34.82.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FSLY. Amundi increased its position in shares of Fastly by 11.3% in the first quarter. Amundi now owns 46,624 shares of the company’s stock valued at $277,000 after buying an additional 4,724 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Fastly in the first quarter valued at $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Fastly by 1.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock valued at $2,950,000 after buying an additional 6,247 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Fastly by 963.6% in the first quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock valued at $385,000 after buying an additional 55,118 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Fastly by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after buying an additional 165,937 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analyst Ratings Changes

FSLY has been the subject of several research analyst reports. Craig Hallum cut Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Tuesday, April 14th. Piper Sandler cut their price objective on Fastly to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research report on Friday, May 8th. KeyCorp increased their price objective on Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Evercore initiated coverage on Fastly in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price objective for the company. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Fastly currently has a consensus rating of “Hold” and a consensus target price of $22.63.

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.