Insider Selling: Fastly (NYSE:FSLY) Director Sells $16,960.00 in Stock

Fastly, Inc. (NYSE:FSLY) Director Christopher Paisley sold 1,000 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 $16,960.00. Following the completion of the transaction, the director directly owned 5,227 shares of the company’s stock, valued at $88,649.92. This represents a 16.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Fastly Stock Performance

NYSE:FSLY opened at $19.91 on Friday. The company has a market capitalization of $3.12 billion, a PE ratio of -20.74 and a beta of 0.37. The company has a 50 day simple moving average of $23.57 and a two-hundred day simple moving average of $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. Fastly, Inc. has a fifty-two week low of $6.29 and a fifty-two week high of $34.82.

Institutional Trading of Fastly

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Fastly by 84.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after purchasing an additional 633 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Fastly in the 1st quarter worth about $44,000. EverSource Wealth Advisors LLC increased its holdings in Fastly by 39.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock worth $64,000 after acquiring an additional 627 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Fastly in the 4th quarter worth about $41,000. Finally, Align Financial LLC purchased a new stake in Fastly in the 4th quarter worth about $41,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FSLY shares. DA Davidson set a $13.00 target price on shares of Fastly in a research report on Thursday, February 12th. Evercore started coverage on shares of Fastly in a research report on Tuesday, April 14th. They set an “outperform” rating and a $24.00 target price for the company. Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research report on Tuesday, April 14th. Citigroup increased their target price on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Four 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. 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.