Fastly (NYSE:FSLY) CEO Charles Lacey Compton III Sells 9,313 Shares

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 9,313 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $20.79, for a total transaction of $193,617.27. Following the transaction, the chief executive officer owned 1,063,945 shares of the company’s stock, valued at $22,119,416.55. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Friday, May 29th, Charles Lacey Compton III sold 15,028 shares of Fastly stock. The shares were sold at an average price of $16.96, for a total transaction of $254,874.88.
• On Tuesday, May 19th, Charles Lacey Compton III sold 11,275 shares of Fastly stock. The shares were sold at an average price of $16.48, for a total transaction of $185,812.00.
• On Monday, May 18th, Charles Lacey Compton III sold 34,334 shares of Fastly stock. The shares were 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 shares were 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 shares were sold at an average price of $24.33, for a total transaction of $546,792.42.

Fastly Trading Down 9.2%

Shares of FSLY opened at $18.07 on Friday. Fastly, Inc. has a twelve month low of $6.29 and a twelve month high of $34.82. The company has a market cap of $2.83 billion, a P/E ratio of -18.82 and a beta of 0.37. 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 company’s fifty day simple moving average is $23.34 and its 200-day simple moving average is $17.14.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FSLY. PNC Financial Services Group Inc. increased its stake in Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after buying an additional 633 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Fastly in the 4th quarter worth about $41,000. Align Financial LLC purchased a new position in Fastly in the 4th quarter worth about $41,000. Sound Income Strategies LLC purchased a new position in Fastly in the 1st quarter worth about $44,000. Finally, Quarry LP purchased a new position in Fastly in the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several recent analyst reports. Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research note on Tuesday, April 14th. Citigroup increased 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. DA Davidson set a $13.00 target price on shares of Fastly in a research note on Thursday, February 12th. Evercore initiated coverage on shares of Fastly in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Raymond James Financial raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a research note on Friday, May 8th. Four investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.