Fastly, Inc. (NYSE:) CEO Todd Nightingale recently sold 49,816 shares of the company’s Class A common stock, according to a recent SEC filing. The shares were sold to satisfy tax obligations related to the vesting of previously granted Restricted Stock Units. The transaction, which took place on November 18, 2024, was executed at a weighted average price of $6.25 per share, totaling approximately $311,350.
Following this transaction, Nightingale retains direct ownership of 1,600,973 shares in the company. The sale was conducted in multiple transactions, with prices ranging from $6.25 to $6.44 per share. Nightingale has committed to providing full details regarding the number of shares sold at each price upon request.
In other recent news, Fastly, Inc. has released its third-quarter earnings for 2024. The earnings call, led by CEO Todd Nightingale and CFO Ron Kisling, offered insights into the company’s financial performance and future prospects. The company’s leadership expressed optimism about Fastly’s strategy and long-term growth, while also acknowledging potential risks and uncertainties that could impact future financial results.
In the call, key forward-looking statements were made regarding Fastly’s expected business performance and financial outcomes. These statements indicated confidence in the company’s product sales and overall future prospects. The earnings call was webcasted on Fastly’s website and will be archived for one year, available for replay by dialing 800-770-2030 with the conference ID 7543239.
These are the recent developments for Fastly, as the company continues to navigate the business landscape. The company has not outlined any specific financial misses, and the earnings call included a Q&A session, the details of which were not provided.
InvestingPro Insights
As Fastly’s CEO Todd Nightingale sells shares to cover tax obligations, investors might be interested in a broader perspective on the company’s financial health and market performance. According to InvestingPro data, Fastly’s market capitalization stands at $914.76 million, reflecting its current position in the edge computing and content delivery network space.
Despite the recent insider sale, it’s worth noting that Fastly’s revenue growth remains positive, with a 10.94% increase over the last twelve months as of Q3 2024, reaching $540.87 million. This growth suggests that the company continues to expand its customer base and service offerings.
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