Charles Lacey Compton III Sells 9,313 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 9,313 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.79, for a total value of $193,617.27. Following the transaction, the chief executive officer directly owned 1,063,945 shares in the company, valued at approximately $22,119,416.55. This represents a 0.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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, May 29th, Charles Lacey Compton III sold 15,028 shares of Fastly stock. The stock was sold at an average price of $16.96, for a total value of $254,874.88.
• On Tuesday, May 19th, Charles Lacey Compton III sold 11,275 shares of Fastly stock. The stock was sold at an average price of $16.48, for a total value of $185,812.00.
• On Monday, May 18th, Charles Lacey Compton III sold 34,334 shares of Fastly stock. The stock was sold at an average price of $16.85, for a total value of $578,527.90.
• On Friday, April 17th, Charles Lacey Compton III sold 7,059 shares of Fastly stock. The stock was sold at an average price of $24.57, for a total value of $173,439.63.
• On Thursday, April 16th, Charles Lacey Compton III sold 22,474 shares of Fastly stock. The stock was sold at an average price of $24.33, for a total value of $546,792.42.

Fastly Stock Down 9.2%

NYSE:FSLY opened at $18.07 on Friday. The stock’s fifty day moving average price is $23.34 and its two-hundred day moving average price is $17.14. Fastly, Inc. has a 52-week low of $6.29 and a 52-week high of $34.82. 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 company has a market cap of $2.83 billion, a price-to-earnings ratio of -18.82 and a beta of 0.37.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FSLY. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a research note on Tuesday, April 14th. 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. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a report on Friday, May 8th. Royal Bank Of Canada reduced their price objective on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Finally, DA Davidson set a $13.00 price target on Fastly in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fastly presently has an average rating of “Hold” and a consensus target price of $22.63.

Institutional Investors Weigh In On Fastly

Several hedge funds have recently bought and sold shares of FSLY. Amundi lifted its position in Fastly by 11.3% during the first 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 position in Fastly in the first quarter valued at approximately $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Fastly by 1.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock valued at $2,950,000 after acquiring an additional 6,247 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Fastly by 963.6% during the first quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock worth $385,000 after buying an additional 55,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Fastly by 7.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock worth $14,573,000 after buying an additional 165,937 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

About Fastly

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.