Fastly, Inc. (NYSE:FSLY – Get Free Report) insider Scott Lovett sold 19,622 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.96, for a total value of $332,789.12. Following the sale, the insider owned 1,469,413 shares in the company, valued at approximately $24,921,244.48. The trade was a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Fastly Stock Down 4.4%
Fastly stock opened at $19.91 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 business’s 50-day simple moving average is $23.57 and its two-hundred day simple moving average is $17.14. The company has a market cap of $3.12 billion, a PE ratio of -20.74 and a beta of 0.49. Fastly, Inc. has a fifty-two week low of $6.29 and a fifty-two week high of $34.82.
Wall Street Analyst Weigh In
FSLY has been the subject of several analyst reports. William Blair raised Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Piper Sandler decreased their price objective on Fastly to $27.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. DA Davidson set a $13.00 price objective on Fastly in a report on Thursday, February 12th. Royal Bank Of Canada decreased their price objective on Fastly to $18.00 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Finally, Citigroup boosted their price objective on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Four 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. According to MarketBeat.com, Fastly presently has an average rating of “Hold” and a consensus price target of $22.63.
Hedge Funds Weigh In On Fastly
Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its stake in Fastly by 39.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock worth $64,000 after purchasing an additional 627 shares in the last quarter. PNC Financial Services Group Inc. raised 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 valued at $40,000 after acquiring an additional 633 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of Fastly by 8.4% in the fourth quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock valued at $122,000 after acquiring an additional 930 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Fastly by 3.2% in the third quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock valued at $348,000 after acquiring an additional 1,253 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. raised its stake in shares of Fastly by 13.8% in the third quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock valued at $103,000 after acquiring an additional 1,465 shares in the last quarter. Institutional investors and hedge funds 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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