Fastly shares slide 7.4% as investors digest March 2026 note maturity overhang and recent governance-related disclosures

Fastly (FSLY) is down 7.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The selloff looks most consistent with a post-rally pullback amid balance-sheet and event-driven overhangs, rather than a single new operational headline. With Fastly’s 0% convertible notes due 2026 reaching maturity in mid-March, positioning around potential repayment/conversion dynamics and hedging could be weighing on the stock, alongside lingering investor attention on the company’s recent auditor change and insider-selling disclosures.

Details:

Fastly has disclosed that its remaining 0% convertible senior notes due 2026 were scheduled to mature on March 15, 2026, creating a near-term focus on how the maturity is settled (cash repayment vs. conversion).

Fastly also previously completed a transaction to repurchase a portion of its 2026 notes using proceeds from a newer convertible notes offering, reducing but not eliminating the 2026 maturity overhang.

In a March 2026 SEC filing, Fastly’s audit committee approved the appointment of KPMG as independent registered public accounting firm for fiscal 2026 following the dismissal of its prior auditor.

A March 2026 Form 4 disclosed open-market share sales under a Rule 10b5-1 plan by a senior executive, which can contribute to short-term sentiment pressure after a sharp run-up.

Sources:

SEC, Fastly Investor Relations, Simply Wall St, Stock Titan

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$FSLY Insider Trading Activity

$FSLY insiders have traded $FSLY stock on the open market 89 times in the past 6 months. Of those trades, 0 have been purchases and 89 have been sales.

Here’s a breakdown of recent trading of $FSLY stock by insiders over the last 6 months:

ARTUR BERGMAN (Chief Technology Officer) has made 0 purchases and 62 sales selling 2,626,173 shares for an estimated $40,918,346.
CHARLES LACEY III COMPTON (CEO) has made 0 purchases and 16 sales selling 258,666 shares for an estimated $4,883,622.
SCOTT R. LOVETT (President, Go to Market) has made 0 purchases and 8 sales selling 422,267 shares for an estimated $4,677,063.
RICHARD DEVON DANIELS sold 14,976 shares for an estimated $312,848
RICHARD WONG (CFO) has made 0 purchases and 2 sales selling 9,242 shares for an estimated $191,897.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$FSLY Hedge Fund Activity

We have seen 133 institutional investors add shares of $FSLY stock to their portfolio, and 134 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

ALYESKA INVESTMENT GROUP, L.P. added 4,623,767 shares (+2795.2%) to their portfolio in Q4 2025, for an estimated $47,069,948
ROYAL BANK OF CANADA removed 2,500,858 shares (-98.4%) from their portfolio in Q4 2025, for an estimated $25,458,734
DIVISADERO STREET CAPITAL MANAGEMENT, LP removed 2,476,487 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $25,210,637
POINT72 ASSET MANAGEMENT, L.P. added 2,386,742 shares (+204.3%) to their portfolio in Q4 2025, for an estimated $24,297,033
PRUDENTIAL FINANCIAL INC added 1,845,821 shares (+3649.7%) to their portfolio in Q4 2025, for an estimated $18,790,457
TWO SIGMA INVESTMENTS, LP added 1,726,776 shares (+123.7%) to their portfolio in Q4 2025, for an estimated $17,578,579
DIMENSIONAL FUND ADVISORS LP removed 1,407,281 shares (-34.0%) from their portfolio in Q4 2025, for an estimated $14,326,120

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$FSLY Analyst Ratings

Wall Street analysts have issued reports on $FSLY in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Keybanc issued a "Overweight" rating on 12/15/2025

To track analyst ratings and price targets for $FSLY, check out Quiver Quantitative's $FSLY forecast page.

$FSLY Price Targets

Multiple analysts have issued price targets for $FSLY recently. We have seen 5 analysts offer price targets for $FSLY in the last 6 months, with a median target of $14.0.

Here are some recent targets:

Rishi Jaluria from RBC Capital set a target price of $20.0 on 03/02/2026
Fatima Boolani from Citigroup set a target price of $13.0 on 02/13/2026
James Fish from Piper Sandler set a target price of $14.0 on 02/12/2026
Rudy Kessinger from DA Davidson set a target price of $9.0 on 02/09/2026
Jackson Ader from Keybanc set a target price of $14.0 on 12/15/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.