Insider Selling: Fastly (NYSE:FSLY) CEO Sells 11,275 Shares of Stock

Key Points

• Fastly CEO Charles Lacey Compton III sold 11,275 shares on May 19 at an average price of $16.48, totaling about $185,812. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• After the transaction, Compton still directly owned 1,088,286 shares valued at roughly $17.9 million, and the sale represented a 1.03% decrease in his ownership.
• Recent filing data shows the CEO has been actively selling shares over the past few months, while institutional investors own 79.71% of Fastly and analysts currently rate the stock a consensus "Hold" with an average target price of $22.63.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CEO Charles Lacey Compton III sold 11,275 shares of Fastly stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $16.48, for a total transaction of $185,812.00. Following the completion of the transaction, the chief executive officer directly owned 1,088,286 shares in the company, valued at $17,934,953.28. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 transaction of $578,527.90.
• On Friday, April 17th, Charles Lacey Compton III sold 7,059 shares of Fastly stock. The shares were sold at an average price of $24.57, for a total transaction of $173,439.63.
• On Thursday, April 16th, Charles Lacey Compton III sold 22,474 shares of Fastly stock. The shares were sold at an average price of $24.33, for a total transaction of $546,792.42.
• On Thursday, March 5th, Charles Lacey Compton III sold 36,694 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total transaction of $759,198.86.
• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The shares were sold at an average price of $20.94, for a total transaction of $1,532,933.64.
• On Thursday, February 19th, Charles Lacey Compton III sold 14,797 shares of Fastly stock. The shares were sold at an average price of $18.88, for a total transaction of $279,367.36.

Fastly Stock Performance

Shares of FSLY traded up $0.76 during trading hours on Wednesday, reaching $17.12. 6,247,769 shares of the company traded hands, compared to its average volume of 12,064,143. The stock has a market capitalization of $2.68 billion, a P/E ratio of -17.83 and a beta of 0.49. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 12-month low of $6.29 and a 12-month high of $34.82. The business has a fifty day moving average price of $25.25 and a 200-day moving average price of $16.48.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FSLY shares. William Blair raised shares of Fastly from a "market perform" rating to an "outperform" rating in a report on Thursday, February 12th. Craig Hallum lowered shares of Fastly from a "buy" rating to a "hold" rating and set a $24.00 price objective on the stock. in a report on Tuesday, April 14th. Raymond James Financial raised shares of Fastly from a "market perform" rating to an "outperform" rating and set a $23.00 price objective on the stock in a report on Friday, May 8th. Royal Bank Of Canada dropped their price objective on shares of Fastly to $18.00 and set a "sector perform" rating on the stock in a report on Thursday, May 7th. Finally, KeyCorp boosted their target price on shares of Fastly from $14.00 to $27.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $22.63.

Hedge Funds Weigh In On Fastly

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in shares of Fastly by 120.0% during the 1st quarter. Bank of America Corp DE now owns 1,269,369 shares of the company's stock valued at $36,888,000 after buying an additional 692,459 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Fastly by 26.2% during the 1st quarter. Janus Henderson Group PLC now owns 67,050 shares of the company's stock valued at $1,948,000 after buying an additional 13,900 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Fastly by 10.0% during the 1st quarter. Sunbelt Securities Inc. now owns 77,944 shares of the company's stock valued at $2,265,000 after buying an additional 7,076 shares during the last quarter. Amundi raised its stake in shares of Fastly by 4.6% during the 1st quarter. Amundi now owns 48,441 shares of the company's stock valued at $1,408,000 after buying an additional 2,129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Fastly by 39.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company's stock valued at $64,000 after buying an additional 627 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company's stock.

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.

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