Fastly, Inc.'s (NYSE:FSLY) Chief Financial Officer, Ronald W. Kisling, sold a total of $9,828 worth of Class A Common Stock, according to the company's latest SEC filing. The transaction, which took place on May 29, 2024, involved 1,206 shares at a weighted average price of $8.15.
The filing revealed that the shares were disposed of in multiple transactions with prices ranging from $8.15 to $8.20 per share. This sale was part of a tax obligation fulfillment related to the vesting of previously granted performance-based Restricted Stock Units.
Following the transaction, Kisling still owns a substantial amount of Fastly stock, with 605,506 shares remaining in his possession. The details of the sale, including the specific number of shares sold at each price within the provided range, are available upon request from the issuer, any security holder of the issuer, or the SEC staff.
Investors and followers of Fastly, Inc. may find the full transaction details in the company's Form 4 filing with the SEC. Fastly, based in San Francisco, California, operates within the prepackaged software industry and is known for its cloud computing services.
InvestingPro Insights
Fastly, Inc. (NYSE:FSLY) has recently been under scrutiny, not only for its executive's transactions but also for its financial health and market performance. According to InvestingPro data, Fastly's market capitalization stands at approximately $1.07 billion, reflecting the size of the company in the current market. Despite a challenging environment for tech stocks, Fastly has demonstrated growth with a revenue increase of 16.53% over the last twelve months as of Q1 2024. However, the company's operating income margin remains negative at -36.24%, indicating that profitability is still an issue.
An InvestingPro Tip highlights that Fastly is trading near its 52-week low, which may attract investors looking for potential bargains. Additionally, the company's liquid assets surpass its short-term obligations, suggesting a level of financial stability in terms of liquidity. On the flip side, analysts have revised their earnings estimates downwards for the upcoming period, and the general consensus is that Fastly will not be profitable this year. Moreover, with the stock having fared poorly over the last month, it's clear that investor sentiment has been affected.
For investors considering Fastly as a part of their portfolio, it might be worth noting that the stock is currently in oversold territory according to the Relative Strength Index (RSI), a metric that could signal a potential rebound or at least a pause in the downward trend. Remember, there are additional InvestingPro Tips available for Fastly, which can be accessed through InvestingPro's platform. For those interested in a deeper dive into Fastly's financial metrics and professional analysis, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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