Charles Lacey Compton III Sells 22,474 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 22,474 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $24.33, for a total transaction of $546,792.42. Following the completion of the transaction, the chief executive officer owned 1,140,954 shares in the company, valued at approximately $27,759,410.82. This represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Lacey Compton III also recently made the following trade(s):

• On Friday, April 17th, Charles Lacey Compton III sold 7,059 shares of Fastly stock. The shares were sold at an average price of $24.57, for a total transaction of $173,439.63.
• On Thursday, March 5th, Charles Lacey Compton III sold 36,694 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total transaction of $759,198.86.
• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The shares were sold at an average price of $20.94, for a total transaction of $1,532,933.64.
• On Thursday, February 19th, Charles Lacey Compton III sold 14,797 shares of Fastly stock. The shares were sold at an average price of $18.88, for a total transaction of $279,367.36.
• On Wednesday, February 18th, Charles Lacey Compton III sold 12,916 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total transaction of $226,417.48.
• On Tuesday, January 20th, Charles Lacey Compton III sold 4,638 shares of Fastly stock. The shares were sold at an average price of $8.81, for a total transaction of $40,860.78.

Fastly Stock Up 4.5%

Fastly stock opened at $26.56 on Wednesday. The firm has a market cap of $4.03 billion, a PE ratio of -27.67 and a beta of 0.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The firm’s 50 day moving average price is $23.71 and its two-hundred day moving average price is $14.67. Fastly, Inc. has a twelve month low of $5.18 and a twelve month high of $34.82.

Analysts Set New Price Targets

FSLY has been the subject of several recent research reports. Evercore initiated coverage on shares of Fastly in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 target price for the company. 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 report on Tuesday, April 14th. Royal Bank Of Canada boosted their target price on shares of Fastly from $12.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Finally, DA Davidson set a $13.00 target price on shares of Fastly in a research report on Thursday, February 12th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.25.

Institutional Trading of Fastly

Large investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC bought a new stake in shares of Fastly during the 3rd quarter worth $61,864,000. Alyeska Investment Group L.P. boosted its holdings in shares of Fastly by 2,795.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after buying an additional 4,623,767 shares during the period. Divisadero Street Capital Management LP bought a new stake in shares of Fastly during the 3rd quarter worth $21,174,000. Balyasny Asset Management L.P. boosted its holdings in shares of Fastly by 3,941.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock worth $9,383,000 after buying an additional 1,296,119 shares during the period. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Fastly during the 4th quarter worth $11,657,000. 79.71% of the stock is owned by institutional investors.

Fastly Company Profile

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.