Citigroup Inc. Sells 51,809 Shares of Fastly, Inc. $FSLY

Key Points

• Citigroup sold 51,809 shares of Fastly in the third quarter, cutting its stake by 17.3% to 248,142 shares (about $2.12 million), representing roughly 0.17% of the company.
• Significant insider selling occurred on March 4 — the CEO sold ~73,715 shares and the CTO sold 24,532 shares — and insiders have sold about 1,090,695 shares (~$16.4M) in the past 90 days, which could weigh on sentiment.
• Analyst and institutional backdrop: institutional investors own 79.71% (Vanguard boosted its stake to 16.67M shares), the consensus rating is a "Hold" with an average target of $13.14, though several firms have upgraded Fastly and raised targets to $13–$14; the stock trades near $20 with a $3.06B market cap.

Citigroup Inc. lowered its holdings in Fastly, Inc. (NYSE:FSLY - Free Report) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 248,142 shares of the company's stock after selling 51,809 shares during the quarter. Citigroup Inc. owned about 0.17% of Fastly worth $2,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Fastly by 3.4% during the third quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company's stock worth $142,500,000 after buying an additional 554,909 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Fastly by 3.4% during the second quarter. Legal & General Group Plc now owns 8,943,224 shares of the company's stock valued at $63,139,000 after buying an additional 291,617 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Fastly during the third quarter valued at about $61,864,000. Marshall Wace LLP increased its position in shares of Fastly by 115.2% during the second quarter. Marshall Wace LLP now owns 3,385,167 shares of the company's stock worth $23,899,000 after acquiring an additional 1,811,935 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Fastly by 6.3% during the second quarter. Geode Capital Management LLC now owns 3,212,253 shares of the company's stock worth $22,681,000 after acquiring an additional 189,423 shares in the last quarter. Institutional investors own 79.71% of the company's stock.

Wall Street Analyst Weigh In

FSLY has been the topic of several recent research reports. Citigroup raised their price target on shares of Fastly from $10.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, February 13th. KeyCorp raised Fastly from a "sector weight" rating to an "overweight" rating and set a $14.00 price objective for the company in a report on Monday, December 15th. Wall Street Zen raised Fastly from a "hold" rating to a "buy" rating in a research note on Saturday, November 15th. William Blair upgraded Fastly from a "market perform" rating to an "outperform" rating in a report on Thursday, February 12th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $14.00 target price (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $13.14.

Fastly Stock Down 1.5%

FSLY opened at $20.14 on Friday. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $21.75. The firm has a market capitalization of $3.06 billion, a P/E ratio of -20.98 and a beta of 0.88. The company's 50-day moving average is $12.58 and its 200 day moving average is $10.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

Trending Headlines about Fastly

Here are the key news stories impacting Fastly this week:

• Positive Sentiment: One-week momentum: Zacks notes FSLY rose ~5.75% over the past week, which can attract momentum or short-term traders and support near-term liquidity and sentiment. Fastly (FSLY) Is Up 5.75% in One Week: What You Should Know
• Positive Sentiment: Analyst/institutional color: Recent analyst moves (RBC raised its price objective, KeyCorp and William Blair issued more positive notes) and some small institutional buys have helped underpin the recovery narrative versus the prior year’s lows. That analyst chatter can provide support if earnings/guide match expectations. MarketBeat FSLY Coverage
• Neutral Sentiment: Industry backdrop: A Manila Standard piece highlights an "AI speed tax" — higher compute/network costs for AI workloads. For Fastly (edge cloud/CDN), higher demand from AI could be revenue-positive but may also raise operating/capex pressure; net impact is uncertain and depends on how Fastly prices/monetizes edge AI services. AI businesses paying an ‘AI Speed Tax’
• Negative Sentiment: Significant insider selling: Multiple insiders sold substantial blocks on March 4 (CEO Charles Lacey Compton III sold ~73k shares; CTO Artur Bergman sold ~24.5k shares, plus a series of prior sales). Large, clustered insider sales can sap investor confidence and add selling pressure even if some sales are for diversification or taxes. Insider Selling: Fastly NYSE: FSLY CTO Sells 24,532 Shares of Stock SEC Form 4 — CEO Sale

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 24,532 shares of Fastly stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $21.06, for a total transaction of $516,643.92. Following the transaction, the chief technology officer owned 2,149,789 shares of the company's stock, valued at $45,274,556.34. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott R. Lovett sold 73,715 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $21.06, for a total value of $1,552,437.90. Following the completion of the transaction, the insider owned 1,580,513 shares in the company, valued at $33,285,603.78. The trade was a 4.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,090,695 shares of company stock worth $16,399,868. Insiders own 6.70% of the company's stock.

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.

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