Key Points
- Fastly CFO Richard Wong sold 2,500 shares on May 21 at an average price of $16.48, totaling about $41,200. After the sale, he still held more than 1.24 million shares.
- Wong also sold additional Fastly shares earlier in the week, including 6,315 shares on May 19 and 3,592 shares on May 18, bringing recent insider selling to a larger pattern.
- Fastly stock was trading around $16.32, with analysts currently split overall on the name and a consensus rating of “Hold” and average price target of $22.63.
Fastly, Inc. (NYSE:FSLY - Get Free Report) CFO Richard Wong sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $16.48, for a total transaction of $41,200.00. Following the sale, the chief financial officer owned 1,239,301 shares of the company's stock, valued at approximately $20,423,680.48. The trade was a 0.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
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.
- 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 transaction of $60,525.20.
Fastly Trading Down 0.5%
Shares of FSLY stock opened at $16.32 on Friday. The company has a 50 day moving average of $24.88 and a 200-day moving average of $16.60. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 12-month low of $6.29 and a 12-month high of $34.82. The firm has a market cap of $2.55 billion, a P/E ratio of -17.00 and a beta of 0.49.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company's stock valued at $40,000 after buying an additional 633 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Fastly in the 1st quarter valued at approximately $44,000. EverSource Wealth Advisors LLC boosted 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 valued at $64,000 after purchasing an additional 627 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Fastly in the 4th quarter valued at $41,000. Finally, Align Financial LLC bought a new position in Fastly in the 4th quarter valued at $41,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on FSLY. Piper Sandler decreased their price target on shares of Fastly to $27.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada reduced their price objective on shares of Fastly to $18.00 and set a "sector perform" rating for the company in a research note on Thursday, May 7th. Citigroup lifted their price objective on shares of Fastly from $13.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. KeyCorp lifted their price objective on shares of Fastly from $14.00 to $27.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, Evercore initiated coverage on shares of Fastly in a research note on Tuesday, April 14th. They issued an "outperform" rating and a $24.00 price objective for the company. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Fastly has an average rating of "Hold" and a consensus price target of $22.63.
Get Our Latest Stock Analysis on Fastly
Fastly Company Profile
(
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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