Fastly, Inc. (NYSE:FSLY – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $18.25, but opened at $18.93. Fastly shares last traded at $18.5440, with a volume of 693,279 shares.
Analyst Ratings Changes
FSLY has been the subject of a number of research reports. Royal Bank Of Canada decreased their price target on Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Citigroup boosted their price objective on Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Raymond James Financial upgraded 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. Piper Sandler decreased their target price on Fastly to $27.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Finally, KeyCorp lifted their target price on Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.62.
Get Our Latest Stock Report on FSLY
Fastly Price Performance
Insider Buying and Selling
In related news, CTO Artur Bergman sold 7,889 shares of Fastly stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $20.96, for a total value of $165,353.44. Following the transaction, the chief technology officer owned 2,038,638 shares of the company’s stock, valued at approximately $42,729,852.48. This trade represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Wong sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $16.48, for a total value of $41,200.00. Following the sale, the chief financial officer owned 1,239,301 shares in the company, valued at approximately $20,423,680.48. The trade was a 0.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 304,062 shares of company stock valued at $5,482,012 over the last ninety days. 6.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Fastly by 39.8% during the first 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 period. PNC Financial Services Group Inc. grew its position in Fastly by 84.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after purchasing an additional 633 shares in the last quarter. Kestra Advisory Services LLC grew its position in Fastly by 8.4% during the 4th quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock worth $122,000 after purchasing an additional 930 shares in the last quarter. Parallax Volatility Advisers L.P. raised its stake in Fastly by 13.8% during 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 during the period. Finally, Sound Income Strategies LLC acquired a new stake in Fastly during the 1st quarter valued at $44,000. 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.
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