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Insider Trading March 10, 2026

Fastly Director Sells $312K in Stock as Shares Trade Near Yearly High

Director Richard Devon Daniels disposes of nearly 15,000 Class A shares; company reports strong Q4 results and switches auditors

By Avery Klein FSLY
Fastly Director Sells $312K in Stock as Shares Trade Near Yearly High
FSLY

Fastly director Richard Devon Daniels sold 14,976 shares of Class A common stock on March 6, 2026, generating about $312,848 in proceeds from trades executed between $20.84 and $20.92. The transaction took place while Fastly shares traded close to a 52-week high after a 245% gain over the previous 12 months. Daniels retains direct ownership of 52,676 shares. Separately, Fastly reported fourth-quarter results that outpaced analyst estimates and its Audit Committee selected KPMG as the new independent registered public accounting firm.

Key Points

  • Director Richard Devon Daniels sold 14,976 Class A shares on March 6, 2026, for about $312,848 at prices between $20.84 and $20.92.
  • Fastly reported Q4 revenue of $172.6 million, a 22% year-over-year increase, with operating profit of $21.2 million and EPS of $0.12, all above consensus estimates.
  • Corporate changes include the Audit Committee appointing KPMG as the new independent registered public accounting firm; Deloitte & Touche LLP's prior audit reports had no adverse opinions or modifications.

Insider sale details

Director Richard Devon Daniels of Fastly, Inc. (NYSE:FSLY) sold 14,976 shares of Class A Common Stock on March 6, 2026, resulting in gross proceeds of approximately $312,848. The transactions were executed at prices ranging from $20.84 to $20.92 per share. The disposal occurred as Fastly's stock was trading near a 52-week high of $23.12, after a 245% gain over the past year.

Following the sale, Daniels continues to hold 52,676 shares of Fastly directly.

Valuation note

According to InvestingPro analysis cited with the transaction report, the stock appears overvalued at current levels. The analysis is presented as part of the transaction context to help investors gauge the relative valuation of FSLY at recent market prices.

Quarterly performance

Fastly's fourth-quarter results materially exceeded consensus expectations. The company reported revenue of $172.6 million, topping the consensus estimate of $161.4 million and marking a 22% year-over-year increase in top-line revenue. Operating profit for the quarter was $21.2 million, and earnings per share reached $0.12. Both metrics were well ahead of analyst forecasts, which had projected operating profit of $10.2 million and EPS of $0.06.

Analyst reaction

Following the stronger-than-expected quarterly report, DA Davidson raised its price target for Fastly to $13 from $9 while maintaining a Neutral rating. RBC Capital also lifted its price target to $20 from $12, citing improved execution and multiple expansion. The record shows RBC Capital had earlier raised its target to $12 from $10, noting signs of durable acceleration and margin execution.

Corporate governance update

In a separate corporate development, Fastly's Audit Committee appointed KPMG as the company's new independent registered public accounting firm, replacing Deloitte & Touche LLP. The disclosures note that Deloitte's past audit reports for Fastly did not include any adverse opinions or modifications.

Context for investors

The combination of insider selling, valuation commentary, better-than-expected financial results and an auditor change provides multiple data points for investors assessing FSLY. Daniels' sale and the InvestingPro valuation note are presented alongside the earnings beat and analyst target revisions to offer a fuller picture of recent developments.

Risks

  • Valuation concern: Analysis included with the transaction indicates the stock appears overvalued at current levels, which may affect investor sentiment and market multiples.
  • Insider activity timing: The director's sale occurred while the stock was trading near its 52-week high, a timing that could raise questions for some market participants about near-term upside.
  • Auditor change: The appointment of a new independent registered public accounting firm represents a corporate governance shift; while Deloitte's past reports contained no adverse opinions, the change is an uncertainty until future audits are completed.

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