Insider Selling: Fastly Inc (NYSE:FSLY) CEO Sells $785,000.00 in Stock

Fastly Inc (NYSE:FSLY) CEO Joshua Bixby sold 10,000 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $78.50, for a total value of $785,000.00. Following the transaction, the chief executive officer now directly owns 359,409 shares in the company, valued at $28,213,606.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Joshua Bixby also recently made the following trade(s):

  • On Friday, July 10th, Joshua Bixby sold 20,000 shares of Fastly stock. The shares were sold at an average price of $96.19, for a total value of $1,923,800.00.
  • On Friday, June 26th, Joshua Bixby sold 10,000 shares of Fastly stock. The shares were sold at an average price of $85.62, for a total value of $856,200.00.
  • On Friday, May 29th, Joshua Bixby sold 10,000 shares of Fastly stock. The shares were sold at an average price of $42.25, for a total value of $422,500.00.
  • On Friday, May 1st, Joshua Bixby sold 10,000 shares of Fastly stock. The shares were sold at an average price of $21.48, for a total value of $214,800.00.

FSLY stock opened at $92.56 on Friday. The company has a market cap of $9.45 billion, a price-to-earnings ratio of -138.15 and a beta of 1.18. Fastly Inc has a 12 month low of $10.63 and a 12 month high of $102.95. The firm has a 50-day moving average of $76.76 and a two-hundred day moving average of $38.36.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.11. The firm had revenue of $63.00 million for the quarter, compared to analyst estimates of $59.40 million. The business’s quarterly revenue was up 38.2% on a year-over-year basis. As a group, analysts anticipate that Fastly Inc will post -0.37 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of FSLY. Morgan Stanley increased its holdings in Fastly by 285.4% in the 1st quarter. Morgan Stanley now owns 2,883,106 shares of the company’s stock valued at $54,720,000 after purchasing an additional 2,134,966 shares during the last quarter. First Trust Advisors LP purchased a new position in Fastly in the 2nd quarter valued at approximately $181,541,000. Deutsche Bank AG boosted its position in Fastly by 704,498.4% in the 1st quarter. Deutsche Bank AG now owns 1,359,875 shares of the company’s stock valued at $25,810,000 after buying an additional 1,359,682 shares during the period. Atom Investors LP purchased a new position in Fastly in the 1st quarter valued at approximately $7,654,000. Finally, Alyeska Investment Group L.P. boosted its position in Fastly by 134.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 583,272 shares of the company’s stock valued at $11,071,000 after buying an additional 334,692 shares during the period. Hedge funds and other institutional investors own 36.85% of the company’s stock.

Several equities analysts recently issued reports on the company. Oppenheimer upped their target price on Fastly from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating in a research report on Friday, July 10th. Zacks Investment Research downgraded Fastly from a “buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Piper Sandler lowered shares of Fastly from an “overweight” rating to a “neutral” rating in a research note on Monday, July 6th. Finally, ValuEngine lowered shares of Fastly from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $36.67.

See Also: Hold Rating

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

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