Charles Lacey Compton III Sells 12,916 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CEO Charles Lacey Compton III sold 12,916 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $17.53, for a total value of $226,417.48. Following the completion of the transaction, the chief executive officer directly owned 599,316 shares in the company, valued at $10,506,009.48. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, January 20th, Charles Lacey Compton III sold 4,638 shares of Fastly stock. The stock was sold at an average price of $8.81, for a total value of $40,860.78.
• On Friday, January 16th, Charles Lacey Compton III sold 9,044 shares of Fastly stock. The stock was sold at an average price of $9.07, for a total value of $82,029.08.

Fastly Stock Performance

Shares of NYSE:FSLY opened at $18.08 on Friday. The firm’s 50 day simple moving average is $10.79 and its 200 day simple moving average is $9.56. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $20.27. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -18.83 and a beta of 1.03. 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 Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Fastly in the second quarter worth $171,000. Hussman Strategic Advisors Inc. bought a new position in Fastly in the second quarter valued at $741,000. Knights of Columbus Asset Advisors LLC acquired a new stake in Fastly in the 3rd quarter valued at $1,002,000. Geode Capital Management LLC lifted its position in Fastly by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,212,253 shares of the company’s stock worth $22,681,000 after buying an additional 189,423 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Fastly during the 2nd quarter worth about $557,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FSLY shares. Wall Street Zen raised Fastly from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. DA Davidson set a $13.00 price target on Fastly in a research report on Thursday, February 12th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Royal Bank Of Canada increased their target price on Fastly from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 12th. Finally, Citigroup lifted their price target on shares of Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

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.