Insider Selling: Fastly Inc (NYSE:FSLY) General Counsel Sells $163,411.35 in Stock

Fastly Inc (NYSE:FSLY) General Counsel Paul Luongo sold 2,083 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $78.45, for a total value of $163,411.35. Following the transaction, the general counsel now directly owns 308,537 shares in the company, valued at approximately $24,204,727.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paul Luongo also recently made the following trade(s):

  • On Wednesday, June 24th, Paul Luongo sold 2,084 shares of Fastly stock. The stock was sold at an average price of $74.11, for a total value of $154,445.24.

FSLY stock opened at $92.56 on Friday. The firm has a 50 day moving average of $76.76 and a 200-day moving average of $38.36. Fastly Inc has a 12-month low of $10.63 and a 12-month high of $102.95. 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 (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.11. The company had revenue of $63.00 million for the quarter, compared to analyst estimates of $59.40 million. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, equities research analysts expect that Fastly Inc will post -0.37 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. Cornerstone Investment Partners LLC acquired a new stake in shares of Fastly during the 2nd quarter valued at approximately $304,000. Avitas Wealth Management LLC acquired a new stake in shares of Fastly during the 2nd quarter valued at approximately $317,000. Huntington National Bank acquired a new stake in shares of Fastly during the 2nd quarter valued at approximately $123,000. Koshinski Asset Management Inc. acquired a new stake in shares of Fastly during the 2nd quarter valued at approximately $280,000. Finally, SlateStone Wealth LLC acquired a new position in shares of Fastly during the 2nd quarter worth approximately $1,209,000. Institutional investors own 36.85% of the company’s stock.

A number of equities analysts recently issued reports on FSLY shares. BofA Securities lowered Fastly from a “buy” rating to an “underperform” rating in a report on Friday, July 10th. Oppenheimer raised their price target on Fastly from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Citigroup lowered Fastly from a “neutral” rating to a “sell” rating in a report on Thursday, July 9th. ValuEngine downgraded shares of Fastly from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Zacks Investment Research downgraded shares of Fastly from a “buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $36.67.

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

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