Insider Selling: Fastly (NYSE:FSLY) Insider Sells 6,573 Shares of Stock

by · The Markets Daily

Fastly, Inc. (NYSE:FSLY – Get Free Report) insider Scott Lovett sold 6,573 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $17.53, for a total value of $115,224.69. Following the sale, the insider owned 995,564 shares of the company’s stock, valued at approximately $17,452,236.92. This represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Fastly Stock Up 0.1%

Shares of NYSE:FSLY traded up $0.01 on Friday, reaching $18.08. The company had a trading volume of 21,601,292 shares, compared to its average volume of 10,906,477. The firm has a market capitalization of $2.70 billion, a PE ratio of -18.83 and a beta of 1.03. 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 $4.65 and a 52-week high of $20.27. The firm’s 50 day simple moving average is $10.63 and its 200-day simple moving average is $9.46.

Analyst Ratings Changes

FSLY has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Fastly in a report on Monday, November 17th. They issued a “market perform” rating on the stock. Piper Sandler reissued a “neutral” rating and set a $14.00 target price (up previously from $11.00) on shares of Fastly in a research report on Thursday, February 12th. DA Davidson set a $13.00 target price on shares of Fastly in a research note on Thursday, February 12th. Wall Street Zen raised shares of Fastly from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, KeyCorp upgraded Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.00.

View Our Latest Report on FSLY

Institutional Investors Weigh In On Fastly

A number of large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC raised its stake in Fastly by 8.4% in the 4th quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock worth $122,000 after acquiring an additional 930 shares during the last quarter. Arizona State Retirement System increased its holdings 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 purchasing an additional 1,253 shares during the period. 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 worth $103,000 after purchasing an additional 1,465 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Fastly by 10.1% in the fourth quarter. ProShare Advisors LLC now owns 26,553 shares of the company’s stock worth $270,000 after purchasing an additional 2,435 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Fastly by 3.7% during the fourth quarter. 180 Wealth Advisors LLC now owns 79,221 shares of the company’s stock worth $806,000 after purchasing an additional 2,860 shares during the period. 79.71% of the stock is owned by hedge funds and other institutional investors.

About Fastly

(Get Free Report)

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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