Fastly (NYSE:FSLY) Insider Scott Lovett Sells 34,919 Shares of Stock

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 34,919 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $18.15, for a total transaction of $633,779.85. Following the completion of the transaction, the insider directly owned 1,434,494 shares of the company’s stock, valued at approximately $26,036,066.10. The trade was a 2.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Fastly Trading Up 2.8%

Shares of FSLY stock opened at $17.90 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $2.80 billion, a P/E ratio of -18.65 and a beta of 0.37. The company has a 50 day moving average price of $21.18 and a 200 day moving average price of $17.64. Fastly, Inc. has a fifty-two week low of $6.29 and a fifty-two week high of $34.82.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Raymond James Financial raised Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research report on Friday, May 8th. Royal Bank Of Canada decreased their target price on Fastly to $18.00 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Citigroup boosted their target price on Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a report on Tuesday, April 14th. Finally, Piper Sandler reduced their price target on Fastly to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.62.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Fastly by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after acquiring an additional 310,234 shares in the last quarter. Morgan Stanley raised its position in shares of Fastly by 14.7% during the 4th quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after acquiring an additional 1,071,222 shares in the last quarter. First Trust Advisors LP raised its position in shares of Fastly by 100.5% during the 1st 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. Alyeska Investment Group L.P. raised its position in shares of Fastly by 2,795.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after acquiring an additional 4,623,767 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Fastly by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 4,137,808 shares of the company’s stock worth $35,380,000 after purchasing an additional 117,213 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.