Fastly (NYSE:FSLY) Insider Sells $250,104.55 in Stock

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 14,843 shares of Fastly stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $16.85, for a total value of $250,104.55. Following the sale, the insider directly owned 1,489,035 shares in the company, valued at $25,090,239.75. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Fastly Stock Down 0.5%

NYSE FSLY opened at $16.32 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $24.88 and its two-hundred day moving average is $16.60. The company has a market capitalization of $2.55 billion, a price-to-earnings 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.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Citigroup lifted their target price on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. DA Davidson set a $13.00 target price on shares of Fastly in a research note on Thursday, February 12th. Finally, Piper Sandler cut their target price on shares of Fastly to $27.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.63.

Institutional Inflows and Outflows

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