Fastly, Inc. (NYSE:FSLY – Get Free Report) insider Scott Lovett sold 41,716 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.77, for a total value of $741,293.32. Following the completion of the sale, the insider directly owned 1,392,778 shares in the company, valued at approximately $24,749,665.06. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Fastly Price Performance
FSLY opened at $16.34 on Thursday. The stock has a 50-day moving average price of $20.35 and a 200-day moving average price of $17.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market cap of $2.56 billion, a PE ratio of -17.03 and a beta of 0.38. Fastly, Inc. has a 1 year low of $6.29 and a 1 year high of $34.82.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on FSLY. Citigroup lifted their target price on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Piper Sandler reduced their price target on shares of Fastly to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research report on Tuesday, April 14th. Raymond James Financial upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a report on Friday, May 8th. Finally, Royal Bank Of Canada lowered their price objective on Fastly to $18.00 and set a “sector perform” 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Fastly has a consensus rating of “Hold” and a consensus price target of $22.62.
Hedge Funds Weigh In On Fastly
A number of hedge funds have recently bought and sold shares of FSLY. EverSource Wealth Advisors LLC boosted its holdings in shares of Fastly by 39.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock valued at $64,000 after acquiring an additional 627 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Fastly by 84.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after acquiring an additional 633 shares during the period. Kestra Advisory Services LLC raised its holdings in shares of Fastly by 8.4% during the fourth 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 during the last quarter. Parallax Volatility Advisers L.P. raised its holdings in shares of Fastly by 13.8% during the third 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 during the last quarter. Finally, Sound Income Strategies LLC bought a new position in Fastly during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.
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.
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