Key Points
- Fastly insider Scott Lovett sold 34,919 shares on June 16 at an average price of $18.15, generating about $633,780 and trimming his stake by 2.38%.
- Fastly shares were up 2.8%, opening at $17.90, with the stock trading between a 12-month low of $6.29 and high of $34.82. The company has a market cap of about $2.8 billion.
- Wall Street is mixed on Fastly: analysts currently rate the stock an average of “Hold,” with a consensus price target of $22.62. Institutional ownership remains high at 79.71%, and several funds increased their positions in the latest quarter.
Fastly, Inc. (NYSE:FSLY - Get Free Report) insider Scott Lovett sold 34,919 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $18.15, for a total transaction of $633,779.85. Following the completion of the transaction, the insider owned 1,434,494 shares of the company's stock, valued at approximately $26,036,066.10. The trade was a 2.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Fastly Trading Up 2.8%
NYSE FSLY opened at $17.90 on Friday. The firm's fifty day moving average price is $21.18 and its 200 day moving average price is $17.64. Fastly, Inc. has a 12 month low of $6.29 and a 12 month high of $34.82. 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 market capitalization of $2.80 billion, a price-to-earnings ratio of -18.65 and a beta of 0.37.
Institutional Investors Weigh In On Fastly
Several hedge funds have recently made changes to their positions in FSLY. Bank of America Corp DE increased its position in Fastly by 120.0% in the 1st quarter. Bank of America Corp DE now owns 1,269,369 shares of the company's stock valued at $36,888,000 after acquiring an additional 692,459 shares during the period. Janus Henderson Group PLC lifted its position in Fastly by 26.2% during the 1st quarter. Janus Henderson Group PLC now owns 67,050 shares of the company's stock worth $1,948,000 after acquiring an additional 13,900 shares during the period. Sunbelt Securities Inc. lifted its position in Fastly by 10.0% during the 1st quarter. Sunbelt Securities Inc. now owns 77,944 shares of the company's stock worth $2,265,000 after acquiring an additional 7,076 shares during the period. Amundi lifted its position in Fastly by 4.6% during the 1st quarter. Amundi now owns 48,441 shares of the company's stock worth $1,408,000 after acquiring an additional 2,129 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of 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 last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Evercore initiated coverage on Fastly in a report on Tuesday, April 14th. They set an "outperform" rating and a $24.00 price objective on the stock. KeyCorp upped their target price on Fastly from $14.00 to $27.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Citigroup raised their price target on Fastly from $13.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Raymond James Financial raised Fastly from a "market perform" rating to an "outperform" rating and set a $23.00 price target on the stock in a research report on Friday, May 8th. Finally, Royal Bank Of Canada reduced their price objective on Fastly to $18.00 and set a "sector perform" rating for the company in a research note on Thursday, May 7th. Four 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $22.62.
View Our Latest Stock Analysis on FSLY
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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