Fastly Inc (NYSE:FSLY) major shareholder W Eric Carlborg sold 50,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $21.40, for a total transaction of $1,070,000.00. Following the transaction, the insider now directly owns 55,788 shares in the company, valued at $1,193,863.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
NYSE FSLY opened at $23.30 on Monday. The company has a 50-day moving average of $21.80. Fastly Inc has a twelve month low of $14.12 and a twelve month high of $35.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc bought a new stake in shares of Fastly in the third quarter valued at about $34,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of Fastly in the second quarter valued at about $41,000. AdvisorNet Financial Inc bought a new stake in shares of Fastly in the third quarter valued at about $76,000. Endurance Wealth Management Inc. bought a new stake in shares of Fastly in the third quarter valued at about $96,000. Finally, Pentwater Capital Management LP bought a new stake in shares of Fastly in the second quarter valued at about $142,000. Institutional investors and hedge funds own 14.12% of the company’s stock.
Several equities analysts have commented on the stock. Citigroup increased their target price on shares of Fastly from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. ValuEngine downgraded shares of Fastly from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Piper Jaffray Companies downgraded shares of Fastly from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $21.00 to $24.00 in a research report on Friday, October 11th. Stifel Nicolaus set a $25.00 target price on shares of Fastly and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Zacks Investment Research raised shares of Fastly from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.49.
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