Insider Selling: Fastly (NASDAQ:FSLY) Insider Sells 34,820 Shares

Fastly, Inc. (NASDAQ:FSLY) insider Scott Lovett sold 34,820 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $23.85, for a total value of $830,457.00. Following the completion of the transaction, the insider owned 1,323,398 shares of the company’s stock, valued at $31,563,042.30. The trade was a 2.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Fastly Stock Performance

Shares of Fastly stock traded down $0.71 during trading on Friday, hitting $23.86. 7,837,230 shares of the stock were exchanged, compared to its average volume of 9,212,496. Fastly, Inc. has a 1-year low of $7.74 and a 1-year high of $34.82. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -45.02 and a beta of 0.36. The company has a fifty day moving average price of $23.02 and a 200-day moving average price of $22.43. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.33.

Fastly (NASDAQ:FSLY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.08. The business had revenue of $183.32 million during the quarter, compared to the consensus estimate of $173.94 million. Fastly had a negative return on equity of 6.31% and a negative net margin of 11.80%.Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. As a group, equities analysts predict that Fastly, Inc. will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fastly in a report on Friday, August 7th. Piper Sandler increased their price target on shares of Fastly from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Canaccord Genuity Group started coverage on shares of Fastly in a research report on Friday, July 17th. They set a “buy” rating and a $27.00 price objective for the company. KeyCorp restated an “overweight” rating and set a $30.00 price objective on shares of Fastly in a research report on Friday. Finally, Royal Bank Of Canada lifted their target price on Fastly from $22.00 to $28.00 and gave the company a “sector perform” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.33.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its stake in shares of Fastly by 1,621.7% in the 2nd quarter. IFP Advisors Inc now owns 1,429 shares of the company’s stock worth $26,000 after buying an additional 1,346 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Fastly by 84.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after buying an additional 633 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Fastly in the 4th quarter worth $41,000. Sound Income Strategies LLC bought a new stake in Fastly during the first quarter worth about $44,000. Finally, Integrated Wealth Concepts LLC bought a new position in Fastly during the second quarter valued at approximately $48,000. 79.71% of the stock is owned by institutional investors.

About Fastly

Fastly, Inc is a cloud computing company that provides an edge cloud platform for delivering, securing and accelerating digital experiences. Its platform processes and serves applications, websites, APIs, streaming media and other internet content closer to end users, helping organizations improve performance, reliability and control.

Fastly’s product portfolio includes content delivery and application performance services, application programming interface (API) security, web application and bot protection, distributed denial-of-service (DDoS) mitigation, and edge compute capabilities.