Fastly (NYSE:FSLY) Insider Scott Lovett Sells 14,843 Shares

Fastly, Inc. (NYSE:FSLY) insider Scott Lovett sold 14,843 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $16.85, for a total value of $250,104.55. Following the sale, the insider directly owned 1,489,035 shares in the company, valued at $25,090,239.75. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Fastly Price Performance

Shares of Fastly stock opened at $17.12 on Thursday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -17.83 and a beta of 0.49. 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 stock has a 50 day moving average price of $25.16 and a 200-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.

Institutional Investors Weigh In On Fastly

A number of institutional investors and hedge funds have recently modified their holdings of FSLY. Amundi lifted its stake in shares of Fastly by 11.3% during the 1st quarter. Amundi now owns 46,624 shares of the company’s stock worth $277,000 after acquiring an additional 4,724 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Fastly during the 1st quarter worth approximately $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Fastly by 1.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock worth $2,950,000 after acquiring an additional 6,247 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Fastly by 963.6% during the 1st quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock worth $385,000 after acquiring an additional 55,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Fastly by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock worth $14,573,000 after acquiring an additional 165,937 shares during the last quarter. 79.71% of the stock is owned by institutional investors.

Trending Headlines about 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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FSLY shares. Citigroup lifted their target price on Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. DA Davidson set a $13.00 target price on Fastly in a report on Thursday, February 12th. 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. Piper Sandler dropped their target price on Fastly to $27.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.63.

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.