Key Points
- Fastly insider Scott Lovett sold 41,716 shares on June 17 at an average price of $17.77, totaling about $741,293. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Lovett still held 1,392,778 Fastly shares, worth roughly $24.75 million, and his ownership fell by 2.91%.
- Fastly shares were down 4.1% and the stock was trading near $17.17, while analysts currently rate it a Hold on average with a consensus target price of $22.62.
Fastly, Inc. (NYSE:FSLY - Get Free Report) insider Scott Lovett sold 41,716 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.77, for a total value of $741,293.32. Following the completion of the sale, the insider owned 1,392,778 shares of the company's stock, valued at approximately $24,749,665.06. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Fastly Trading Down 4.1%
NYSE:FSLY opened at $17.17 on Tuesday. The business's 50-day moving average is $20.64 and its two-hundred day moving average is $17.72. The firm has a market capitalization of $2.69 billion, a PE ratio of -17.89 and a beta of 0.37. 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.
Institutional Trading of Fastly
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings 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 during the last quarter. Janus Henderson Group PLC grew its stake in Fastly by 26.2% during the 1st 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. increased its holdings 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 purchasing an additional 7,076 shares during the last quarter. Amundi increased its holdings 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 purchasing an additional 2,129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Fastly by 39.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company's stock worth $64,000 after purchasing an additional 627 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently commented on FSLY. Raymond James Financial upgraded 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. Evercore assumed coverage on shares of Fastly in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $24.00 price objective for the company. Royal Bank Of Canada dropped their price objective on shares of Fastly to $18.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 7th. Citigroup boosted their target price on shares of Fastly from $13.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Craig Hallum downgraded shares of Fastly from a "buy" rating to a "hold" rating and set a $24.00 target price for the company. in a research note on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $22.62.
Read Our Latest Research Report 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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