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 company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.79, for a total value of $193,617.27. Following the sale, the chief executive officer directly owned 1,063,945 shares in the company, valued at $22,119,416.55. This represents a 0.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $16.96, for a total value of $254,874.88.
• On Tuesday, May 19th, Charles Lacey Compton III sold 11,275 shares of Fastly stock. The stock was sold at an average price of $16.48, for a total value of $185,812.00.
• On Monday, May 18th, Charles Lacey Compton III sold 34,334 shares of Fastly stock. The stock was sold at an average price of $16.85, for a total value of $578,527.90.
• On Friday, April 17th, Charles Lacey Compton III sold 7,059 shares of Fastly stock. The stock was sold at an average price of $24.57, for a total value 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 value of $546,792.42.

Fastly Stock Down 9.2%

NYSE:FSLY traded down $1.84 during trading hours on Friday, hitting $18.07. The company’s stock had a trading volume of 7,975,609 shares, compared to its average volume of 11,636,831. The stock has a market capitalization of $2.83 billion, a P/E ratio of -18.82 and a beta of 0.37. The stock has a fifty day moving average of $23.57 and a 200-day moving average of $17.14. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 52-week low of $6.29 and a 52-week high of $34.82.

Hedge Funds Weigh In On Fastly

Several hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. boosted its stake in shares of Fastly by 2,795.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after buying an additional 4,623,767 shares during the period. First Trust Advisors LP boosted its stake in shares of Fastly by 100.5% during the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock worth $204,349,000 after buying an additional 3,524,763 shares during the period. Divisadero Street Capital Management LP acquired a new stake in shares of Fastly during the third quarter worth about $21,174,000. Balyasny Asset Management L.P. boosted its stake in shares of Fastly by 3,941.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock worth $9,383,000 after buying an additional 1,296,119 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Fastly during the fourth quarter worth about $11,657,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analyst Upgrades and Downgrades

FSLY has been the topic of several recent analyst reports. Raymond James Financial raised Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a report on Friday, May 8th. Evercore initiated coverage on Fastly in a report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 target price on the stock. DA Davidson set a $13.00 target price on Fastly in a report on Thursday, February 12th. Royal Bank Of Canada dropped their target price on Fastly to $18.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. Finally, Citigroup increased their target price on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.