RBC Raises Price Target for Fastly Stock

Royal Bank of Canada (RBC) has increased its price target for Fastly's stock from $22.00 to $28.00, indicating a potential upside of 22.77% from the current stock price.

Fastly's CEO, Charles Lacey Compton III, sold 34,334 shares of company stock in May at an average price of $16.85 per share, resulting in a total value of $578,527.90.

The institutional investors and hedge funds have shown significant interest in Fastly, with Vanguard Group Inc., Morgan Stanley, and First Trust Advisors LP increasing their holdings in the company during the fourth quarter.