Insider Selling: Fastly (NYSE:FSLY) CEO Sells 22,474 Shares of Stock

Key Points

• CEO sold 22,474 shares on April 16 at an average price of $24.33 for about $546,792, and the transaction was executed under a pre-arranged Rule 10b5-1 plan, reducing his stake to 1,140,954 shares (a 1.93% decrease).
• Charles Lacey Compton III has repeatedly sold stock this year, including sizable sales on March 4 (73,206 shares at $20.94) and March 5 (36,694 shares at $20.69), indicating a pattern of insider selling.
• Fastly trades near $25.41 with a 50-day average of $23.03 and a 52-week range of $5.13–$34.82, while analysts' consensus is an average Hold rating with a $16.25 average price target.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CEO Charles Lacey Compton III sold 22,474 shares of Fastly stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $24.33, for a total value of $546,792.42. Following the completion of the transaction, the chief executive officer directly owned 1,140,954 shares in the company, valued at approximately $27,759,410.82. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, 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, 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 value of $759,198.86.
• On Wednesday, March 4th, Charles Lacey Compton III sold 73,206 shares of Fastly stock. The stock was 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.
• On Wednesday, February 18th, Charles Lacey Compton III sold 12,916 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total transaction of $226,417.48.
• On Tuesday, January 20th, Charles Lacey Compton III sold 4,638 shares of Fastly stock. The shares were sold at an average price of $8.81, for a total transaction of $40,860.78.

Fastly Stock Performance

NYSE FSLY traded up $0.85 during midday trading on Monday, hitting $25.41. The company had a trading volume of 6,005,013 shares, compared to its average volume of 12,360,175. The firm has a fifty day simple moving average of $23.03 and a two-hundred day simple moving average of $14.43. Fastly, Inc. has a fifty-two week low of $5.13 and a fifty-two week high of $34.82. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -26.47 and a beta of 0.62.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FSLY. Evercore began coverage on Fastly in a research report on Tuesday, April 14th. They set an "outperform" rating and a $24.00 target price on the stock. William Blair raised Fastly from a "market perform" rating to an "outperform" rating in a report on Thursday, February 12th. Piper Sandler reiterated a "neutral" rating and issued a $14.00 price objective (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. DA Davidson set a $13.00 price objective on Fastly in a report on Thursday, February 12th. Finally, Citigroup boosted their price objective on Fastly from $10.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, February 13th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fastly has an average rating of "Hold" and an average price target of $16.25.

Institutional Trading of Fastly

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in Fastly during the fourth quarter worth about $41,000. Align Financial LLC bought a new stake in shares of Fastly in the 4th quarter valued at approximately $41,000. Byrne Asset Management LLC bought a new stake in shares of Fastly in the 3rd quarter valued at approximately $43,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Fastly in the 4th quarter worth approximately $54,000. Finally, Quarry LP acquired a new position in shares of Fastly in the 3rd quarter worth approximately $49,000. Institutional investors own 79.71% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.