Insider Selling: Fastly, Inc. (NYSE:FSLY) CEO Sells 66,317 Shares of Stock

Fastly, Inc. (NYSE:FSLYGet Rating) CEO Todd Nightingale sold 66,317 shares of the business’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $10.44, for a total value of $692,349.48. Following the transaction, the chief executive officer now owns 1,238,030 shares in the company, valued at approximately $12,925,033.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Fastly Trading Down 1.5 %

Shares of NYSE FSLY opened at $8.93 on Friday. The business’s 50 day moving average price is $8.79 and its 200-day moving average price is $10.56. Fastly, Inc. has a fifty-two week low of $7.32 and a fifty-two week high of $46.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.41 and a current ratio of 4.41. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -5.28 and a beta of 1.24.

Hedge Funds Weigh In On Fastly

A number of large investors have recently bought and sold shares of FSLY. Legal & General Group Plc boosted its holdings in Fastly by 114.8% during the 2nd quarter. Legal & General Group Plc now owns 7,466,124 shares of the company’s stock valued at $86,682,000 after acquiring an additional 3,989,496 shares during the period. First Trust Advisors LP boosted its holdings in Fastly by 65.3% during the 1st quarter. First Trust Advisors LP now owns 7,846,587 shares of the company’s stock valued at $136,374,000 after acquiring an additional 3,099,852 shares during the period. Renaissance Technologies LLC purchased a new position in Fastly during the 1st quarter valued at $21,322,000. Great West Life Assurance Co. Can purchased a new position in Fastly during the 3rd quarter valued at $7,855,000. Finally, Qube Research & Technologies Ltd purchased a new position in Fastly during the 1st quarter valued at $11,496,000. Hedge funds and other institutional investors own 65.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FSLY shares. DA Davidson reduced their price objective on Fastly to $12.00 in a report on Tuesday, August 9th. Craig Hallum dropped their target price on shares of Fastly from $19.00 to $13.00 in a report on Thursday, August 4th. Morgan Stanley cut their target price on Fastly from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Thursday, October 20th. Raymond James lowered their price target on Fastly from $35.00 to $25.00 and set a “strong-buy” rating on the stock in a report on Friday, August 12th. Finally, Citigroup reduced their price objective on shares of Fastly from $10.00 to $8.00 and set a “sell” rating on the stock in a research report on Tuesday, November 8th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Fastly presently has an average rating of “Hold” and an average price target of $12.75.

Fastly Company Profile

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Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.

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Insider Buying and Selling by Quarter for Fastly (NYSE:FSLY)

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