Richard Wong Sells 2,500 Shares of Fastly (NYSE:FSLY) Stock

by · The Cerbat Gem

Fastly, Inc. (NYSE:FSLY – Get Free Report) CFO Richard Wong sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $16.48, for a total value of $41,200.00. Following the completion of the sale, the chief financial officer owned 1,239,301 shares in the company, valued at approximately $20,423,680.48. This represents a 0.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Richard Wong also recently made the following trade(s):

  • On Tuesday, May 19th, Richard Wong sold 6,315 shares of Fastly stock. The shares were sold at an average price of $16.35, for a total transaction of $103,250.25.
  • On Monday, May 18th, Richard Wong sold 3,592 shares of Fastly stock. The shares were sold at an average price of $16.85, for a total transaction of $60,525.20.

Fastly Stock Performance

Fastly stock traded down $0.08 during mid-day trading on Friday, hitting $16.32. The company had a trading volume of 5,935,868 shares, compared to its average volume of 11,932,309. The company has a current ratio of 1.46, a quick 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 company’s fifty day moving average is $25.03 and its 200-day moving average is $16.60. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -17.00 and a beta of 0.49.

Analyst Upgrades and Downgrades

FSLY has been the topic of a number of recent analyst reports. Evercore initiated 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. Citigroup raised their target price on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Royal Bank Of Canada dropped their price target on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Finally, Craig Hallum cut Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research note on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Fastly presently has a consensus rating of “Hold” and an average target price of $22.63.

Read Our Latest Report on Fastly

Institutional Trading of Fastly

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after buying an additional 633 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Fastly in the fourth quarter valued at approximately $41,000. Align Financial LLC purchased a new stake in Fastly in the fourth quarter valued at approximately $41,000. Sound Income Strategies LLC purchased a new stake in Fastly in the first quarter valued at approximately $44,000. Finally, Quarry LP purchased a new stake in Fastly in the third quarter valued at approximately $49,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Company Profile

(Get Free Report)

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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