Fastly (NYSE:FSLY) CEO Sells $173,439.63 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 7,059 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $24.57, for a total transaction of $173,439.63. Following the sale, the chief executive officer owned 1,133,895 shares in the company, valued at approximately $27,859,800.15. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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.
• On Wednesday, February 18th, Charles Lacey Compton III sold 12,916 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total transaction of $226,417.48.
• On Tuesday, January 20th, Charles Lacey Compton III sold 4,638 shares of Fastly stock. The stock was sold at an average price of $8.81, for a total transaction of $40,860.78.

Fastly Price Performance

Fastly stock opened at $25.19 on Thursday. The firm has a market cap of $3.82 billion, a PE ratio of -26.24 and a beta of 0.62. Fastly, Inc. has a 52-week low of $5.45 and a 52-week high of $34.82. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $24.03 and its two-hundred day moving average is $14.75.

Institutional Investors Weigh In On Fastly

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC raised its holdings 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 purchasing an additional 930 shares in the last quarter. Arizona State Retirement System raised its holdings 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 purchasing an additional 1,253 shares in the last quarter. Parallax Volatility Advisers L.P. raised its holdings 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 purchasing an additional 1,465 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Fastly by 10.1% in the 4th quarter. ProShare Advisors LLC now owns 26,553 shares of the company’s stock valued at $270,000 after purchasing an additional 2,435 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in shares of Fastly by 3.7% in the 4th quarter. 180 Wealth Advisors LLC now owns 79,221 shares of the company’s stock valued at $806,000 after purchasing an additional 2,860 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSLY. Citigroup increased their target price on shares of Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a report on Tuesday, April 14th. William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Evercore initiated coverage on shares of Fastly in a report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price objective on the stock. Finally, DA Davidson set a $13.00 price objective on shares of Fastly in a report on Thursday, February 12th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.25.

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.