SAN FRANCISCO—Ronald W. Kisling, the Chief Financial Officer of Fastly, Inc. (NYSE:), recently reported the sale of 16,102 shares of the company’s Class A common stock. The shares were sold at a weighted average price of $6.25 per share, totaling approximately $100,637.
The transaction, which took place on November 18, 2024, was conducted to satisfy tax obligations related to the vesting of previously granted Restricted Stock Units. Following this sale, Kisling retains ownership of 542,462 shares in the company.
This sale was disclosed in a filing with the Securities and Exchange Commission, signed by Karen Greenstein, Attorney-in-Fact for Kisling.
In other recent news, Fastly, Inc. has disclosed its third-quarter earnings for 2024, offering insights into its financial performance and future prospects. The earnings call, conducted by CEO Todd Nightingale and CFO Ron Kisling, contained key forward-looking statements concerning Fastly’s business expectations, financial outcomes, product sales, strategies, and long-term growth. The company’s leadership expressed optimism about Fastly’s strategy and long-term growth, while also acknowledging potential risks and uncertainties that could affect future financial results. Notably, the call indicated confidence in Fastly’s product sales and overall future prospects. However, it’s important to note that no specific financial misses were mentioned in the context provided. It’s worth mentioning that these developments are recent, and a replay of the call is available for further details. In the call, no specific details from the Q&A session were provided.
InvestingPro Insights
While Ronald W. Kisling’s recent stock sale was primarily to satisfy tax obligations, it’s worth examining Fastly’s current financial position to provide context for investors. According to InvestingPro data, Fastly’s market capitalization stands at $914.76 million, reflecting the company’s current valuation in the market.
Despite a challenging year for Fastly’s stock price, with a 65.44% decline over the past year, the company has shown some positive financial indicators. Fastly’s revenue for the last twelve months as of Q3 2023 was $540.87 million, with a revenue growth of 10.94% during this period. This growth suggests that Fastly continues to expand its business despite market headwinds.
InvestingPro Tips highlight that Fastly’s liquid assets exceed its short-term obligations, indicating a solid short-term financial position….
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