Key Points
- Fastly CTO Artur Bergman sold 31,848 shares on May 19 at an average price of $16.41, for proceeds of about $522,626. The sale was made under a pre-arranged Rule 10b5-1 plan, and Bergman still owns more than 2.05 million shares.
- Bergman has been an active seller in recent months, including a larger sale of 265,000 shares in March and several other transactions in February and May. The broader wave of insider selling also included Fastly’s CEO and CFO, which may pressure investor sentiment.
- Fastly shares were trading around $17.12, with the stock recently getting mixed analyst coverage: four Buy ratings, six Hold ratings, and one Sell rating. The consensus view remains Hold, with a mean price target of $22.63.
Fastly, Inc. (NYSE:FSLY - Get Free Report) CFO Richard Wong sold 3,592 shares of Fastly stock in a transaction on Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $60,525.20. Following the transaction, the chief financial officer directly owned 1,245,616 shares of the company's stock, valued at approximately $20,988,629.60. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Richard Wong also recently made the following trade(s):
- On Tuesday, May 19th, Richard Wong sold 6,315 shares of Fastly stock. The stock was sold at an average price of $16.35, for a total transaction of $103,250.25.
Fastly Trading Up 4.6%
FSLY stock opened at $17.12 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The company has a fifty day moving average price of $25.16 and a two-hundred day moving average price of $16.54. Fastly, Inc. has a one year low of $6.29 and a one year high of $34.82. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -17.83 and a beta of 0.49.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on FSLY shares. Royal Bank Of Canada dropped their target price on Fastly to $18.00 and set a "sector perform" rating for the company in a report on Thursday, May 7th. KeyCorp lifted 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. Evercore started coverage on Fastly in a report on Tuesday, April 14th. They set an "outperform" rating and a $24.00 target price for the company. Raymond James Financial raised Fastly from a "market perform" rating to an "outperform" rating and set a $23.00 target price for the company in a report on Friday, May 8th. Finally, William Blair raised Fastly from a "market perform" rating to an "outperform" rating in a report on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fastly has an average rating of "Hold" and an average price target of $22.63.
View Our Latest Research Report on FSLY
Institutional Investors Weigh In On Fastly
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Fastly by 120.0% in the first quarter. Bank of America Corp DE now owns 1,269,369 shares of the company's stock valued at $36,888,000 after purchasing an additional 692,459 shares in the last quarter. Janus Henderson Group PLC raised its stake in Fastly by 26.2% in the first quarter. Janus Henderson Group PLC now owns 67,050 shares of the company's stock valued at $1,948,000 after purchasing an additional 13,900 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Fastly by 10.0% in the first quarter. Sunbelt Securities Inc. now owns 77,944 shares of the company's stock valued at $2,265,000 after purchasing an additional 7,076 shares in the last quarter. Amundi raised its stake in Fastly by 4.6% in the first quarter. Amundi now owns 48,441 shares of the company's stock valued at $1,408,000 after purchasing an additional 2,129 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Fastly by 39.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company's stock valued at $64,000 after purchasing an additional 627 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.
Key Stories Impacting Fastly
Here are the key news stories impacting Fastly this week:
- Positive Sentiment: Fastly’s compute and other revenue trends appear to be benefiting from AI-related demand, with a report noting “Other revenues” surged 67% to $8 million as edge compute usage grows and the company adds LLM-ready features. Article Title
- Neutral Sentiment: CEO Charles Lacey Compton III, CFO Richard Wong, CTO Artur Bergman, and insider Scott R. Lovett all disclosed stock sales over May 18-19. Several of the trades were made under pre-arranged Rule 10b5-1 plans, which can reduce concerns that the sales reflect a change in outlook, but the volume of selling may still weigh on sentiment. Article Title
- Negative Sentiment: The insider transactions were fairly broad-based, including multiple sales by the CEO, CFO, and CTO, which can be interpreted by investors as a lack of conviction at current levels even if they were pre-planned. Article Title
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.
Further Reading
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