Insider Selling: Fastly Inc (NYSE:FSLY) CEO Sells $856,200.00 in Stock

Fastly Inc (NYSE:FSLY) CEO Joshua Bixby sold 10,000 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $85.62, for a total value of $856,200.00. Following the sale, the chief executive officer now owns 359,409 shares of the company’s stock, valued at $30,772,598.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • 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 stock was sold at an average price of $21.48, for a total value of $214,800.00.
  • On Friday, April 17th, Joshua Bixby sold 10,000 shares of Fastly stock. The shares were sold at an average price of $23.14, for a total value of $231,400.00.
  • On Friday, April 3rd, Joshua Bixby sold 10,000 shares of Fastly stock. The stock was sold at an average price of $18.20, for a total value of $182,000.00.

Shares of Fastly stock opened at $84.51 on Friday. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of -126.13 and a beta of 1.16. Fastly Inc has a twelve month low of $10.63 and a twelve month high of $89.05. The company’s fifty day moving average is $53.14 and its 200 day moving average is $29.34.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, May 6th. The company reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ 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 firm’s revenue was up 38.2% on a year-over-year basis. As a group, equities research analysts anticipate that Fastly Inc will post -0.38 EPS for the current year.

Several brokerages recently issued reports on FSLY. ValuEngine lowered shares of Fastly from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Bank of America boosted their target price on shares of Fastly from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Investment Research downgraded shares of Fastly from a “buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Robert W. Baird raised their price objective on Fastly from $28.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, Piper Sandler upped their target price on Fastly from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Fastly has an average rating of “Buy” and an average price target of $30.11.

Hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. raised its stake in Fastly by 137.5% during the fourth quarter. Advisor Group Inc. now owns 1,425 shares of the company’s stock worth $29,000 after buying an additional 825 shares during the last quarter. Legal & General Group Plc acquired a new stake in Fastly during the 1st quarter worth about $49,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastly in the 1st quarter worth about $57,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Fastly by 127.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,023 shares of the company’s stock valued at $76,000 after purchasing an additional 2,254 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Fastly during the 4th quarter valued at about $112,000. Institutional investors and hedge funds own 39.11% of the company’s stock.

Recommended Story: Why are gap-down stocks important?

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

Receive News & Ratings for Fastly Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastly and related companies with MarketBeat.com's FREE daily email newsletter.