Scott R. Lovett, serving as President of Go to Market at Fastly, Inc. (NASDAQ:FSLY), completed a transaction involving the sale of 34,919 shares of the company's Class A Common Stock on June 16, 2026. The transactions totaled approximately $633,779.
The shares were sold at prices ranging from $17.83 to $18.16 per share. The stock has delivered a remarkable 163% return over the past year, though it experienced a 5% decline in the last week, reflecting the high volatility that typically characterizes Fastly's trading pattern. The sale was conducted to satisfy tax obligations incurred in connection with the vesting of previously granted Restricted Stock Units. Following this transaction, Mr. Lovett directly holds 1,434,494 shares of Fastly Class A Common Stock.
In other recent news, Fastly Inc. reported its financial results for the first quarter of 2026, surpassing earnings expectations. The company achieved an earnings per share (EPS) of $0.13, compared to the forecasted $0.08, representing a 62.5% positive surprise. Revenue also exceeded predictions, totaling $173 million against the anticipated $170.26 million. These results highlight Fastly's strong financial performance for the quarter.
Despite these achievements, the stock experienced a significant decline in after-hours trading. The stock price dropped by 39.74%, closing at $19.5 from a previous $32.36. This development occurred despite the company's better-than-expected earnings and revenue results.
According to InvestingPro analysis, the stock appears undervalued at current levels, with analysts predicting the company will turn profitable this year. Investors seeking deeper insights can access Fastly's comprehensive Pro Research Report, one of 1,400+ available on InvestingPro, along with exclusive Fair Value estimates and additional ProTips.