Fastly (NYSE:FSLY) CEO Sells $254,874.88 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 15,028 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $16.96, for a total value of $254,874.88. Following the completion of the sale, the chief executive officer owned 1,073,258 shares in the company, valued at $18,202,455.68. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Charles Lacey Compton III also recently made the following trade(s):

• 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 value 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 value 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 value of $173,439.63.
• On Thursday, April 16th, Charles Lacey Compton III sold 22,474 shares of Fastly stock. The stock was sold at an average price of $24.33, for a total value of $546,792.42.
• On Thursday, March 5th, Charles Lacey Compton III sold 36,694 shares of Fastly stock. The stock was sold at an average price of $20.69, for a total value of $759,198.86.
• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The stock was sold at an average price of $20.94, for a total value of $1,532,933.64.

Fastly Price Performance

Fastly stock opened at $19.91 on Friday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -20.74 and a beta of 0.37. Fastly, Inc. has a 52-week low of $6.29 and a 52-week high of $34.82. The stock’s 50 day moving average price is $23.57 and its two-hundred day moving average price is $17.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Hedge Funds Weigh In On Fastly

A number of institutional investors have recently modified their holdings of FSLY. Penserra Capital Management LLC acquired a new position in shares of Fastly during the third quarter worth approximately $61,864,000. Alyeska Investment Group L.P. raised its position 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 purchasing an additional 4,623,767 shares during the period. First Trust Advisors LP raised its position 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 purchasing an additional 3,524,763 shares during the period. Divisadero Street Capital Management LP acquired a new position in shares of Fastly during the third quarter worth approximately $21,174,000. Finally, Balyasny Asset Management L.P. raised its position 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 purchasing an additional 1,296,119 shares during the period. 79.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FSLY shares. Citigroup increased their price target on Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. KeyCorp increased their price target on Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Piper Sandler cut their price target on Fastly to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada cut their price target on Fastly to $18.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. Finally, DA Davidson set a $13.00 price target on Fastly in a report on Thursday, February 12th. Four equities research 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. According to data from MarketBeat, Fastly has an average rating of “Hold” and a consensus 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.