The CFO's $4.23M sale is the most concerning — large open-market sales by the person closest to the books often precede negative news. While the cluster is only 0.18% of market cap, the concentration of C-suite sales at a single price point ($28.60) suggests a coordinated window. Monitor for any upcoming 8-K (restructuring, guidance cut) or further insider dissipation. A follow-through cluster of another 0.5% of market cap would be a stronger sell signal.
Price Chart
Executive Summary
A cluster of five Fastly insiders, including the CEO, CFO, and CTO, sold $6.8M in open-market stock over eight trading days through August 18, 2026. CEO Compton sold $1.13M total, CFO Wong exited $4.23M, and CTO Bergman sold $1.03M — all near multi-month highs near $28.60. This is the heaviest insider selling cluster since the company's last earnings cycle and represents ~0.18% of market cap, but the absolute dollar amount and seniority concentration are notable.
Key Financial Metrics
Key Facts
- CFO Richard Wong sold 148,015 shares for $4.23M on a single day, the largest dollar trade in the cluster and >60% of total cluster value.
- CEO Charles Lacey III sold a total of 45,750 shares across three trades for $1.26M; CTO Artur Bergman sold 64,074 shares for $1.71M.
- President Scott Lovett sold 14,936 shares for $427K; Director Paula Loop sold 7,300 shares for $220K.
- All open-market sales occurred between $23.94 and $28.61; the bulk traded at $28.60-$28.61, near the stock's recent highs.
- Cluster value of $6.8M represents 0.18% of Fastly's $3.8B market cap — modest by proportionality but heavy in absolute insider dollars for a mid-cap tech firm.
Financial Impact
0.18% of market cap ($6.8M) sold by five top insiders; CFO sale alone is 0.11% of market cap
Risk Factors
- CFO massive sale could foreshadow a Q3 earnings miss or guidance downgrade
- Concentration of 5 insiders selling near identical price points raises coordination concerns
- Historical calibration shows 67% win rate on past FSLY calls but avg T+5 returns on prior neutral reports were negative; the bearish cluster here has directional underperformance risk
- Stock could rally on Q3 beat regardless of insider selling since the literature shows insider sales are weak short-term predictors
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-FSLY-1787292358539 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 21d ago | Insider Cluster | $23.16 $24.86 | ▲ +7.34% | ▲ +7.79% | $26.16 (+12.95%) |
Sep 4, 2026 27d ago | Insider Cluster | $21.49 $22.71 | ▲ +5.68% | ▲ +6.14% | $26.16 (+21.73%) |
Sep 2, 2026 29d ago | Insider Cluster | $21.12 $20.59 | ▼ −2.51% | ▼ −2.12% | $26.16 (+23.86%) |
Aug 31, 2026 4w ago | Insider Cluster | $20.77 $20.43 | ▼ −1.64% | ▼ −2.08% | $26.16 (+25.95%) |
Aug 31, 2026 4w ago | 144 | $22.79 $20.77 | ▼ −8.86% | ▼ −8.18% | $26.16 (+14.79%) |
Aug 25, 2026 5w ago | Insider Cluster | $23.29 $24.64 | ▲ +5.80% | ▲ +5.14% | $26.16 (+12.32%) |
Aug 20, 2026 6w ago | Insider Cluster | $24.95 $22.94 | ▲ +8.06% | ▲ +7.76% | $26.16 (−4.85%) |
Aug 20, 2026 6w ago | Insider Cluster | $24.95 $22.94 | ▲ +8.06% | ▲ +7.76% | $26.16 (−4.85%) |
Aug 14, 2026 6w ago | Insider Cluster | $29.04 $26.59 | ▲ +8.44% | ▲ +7.76% | $26.16 (+9.92%) |
Aug 11, 2026 7w ago | Insider Cluster | $28.53 $30.02 | ▲ +5.22% | ▲ +4.52% | $26.16 (−8.31%) |
US Market Status
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