Richard Wong Sells 6,315 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Richard Wong sold 6,315 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $16.35, for a total value of $103,250.25. Following the completion of the transaction, the chief financial officer directly owned 1,239,301 shares in the company, valued at approximately $20,262,571.35. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Richard Wong also recently made the following trade(s):

• On Monday, May 18th, Richard Wong sold 3,592 shares of Fastly stock. The stock was sold at an average price of $16.85, for a total value of $60,525.20.

Fastly Price Performance

Shares of Fastly stock opened at $16.40 on Friday. Fastly, Inc. has a one year low of $6.29 and a one year high of $34.82. The stock’s fifty day moving average is $25.03 and its 200 day moving average is $16.60. The stock has a market cap of $2.57 billion, a P/E ratio of -17.08 and a beta of 0.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

More Fastly News

Here are the key news stories impacting Fastly this week:

• Positive Sentiment: Fastly’s business momentum may be improving from AI-driven usage, with reports that compute-related revenues and “other revenues” are benefiting as customers adopt edge computing and LLM-ready features. Article Title
• Neutral Sentiment: Several Fastly executives disclosed stock sales over May 18-19, including CEO Charles Lacey Compton III, CFO Richard Wong, CTO Artur Bergman, and insider Scott R. Lovett. Some sales were made under pre-arranged Rule 10b5-1 plans, which limits concerns about timing, but the broad selling still adds uncertainty for investors. Article Title
• Negative Sentiment: The most recent headlines focus on insider selling by Fastly’s top leadership, which can pressure sentiment because investors may view it as reduced conviction in the stock near current levels, even though the trades were relatively modest compared with their remaining ownership. Article Title

Analysts Set New Price Targets

A number of brokerages recently commented on FSLY. KeyCorp raised 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. 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. William Blair raised Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Evercore began coverage on Fastly in a report on Tuesday, April 14th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, Citigroup raised their price target on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Four equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.63.

Institutional Investors Weigh In On Fastly

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in Fastly by 84.6% during 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 during the period. Sound Income Strategies LLC bought a new stake in Fastly during the first quarter valued at about $44,000. EverSource Wealth Advisors LLC raised its holdings in 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. Caitong International Asset Management Co. Ltd bought a new stake in Fastly during the fourth quarter valued at about $41,000. Finally, Align Financial LLC bought a new stake in Fastly during the fourth quarter valued at about $41,000. 79.71% of the stock is owned by institutional investors.

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.