Fastly, Inc. (NYSE:FSLY) CFO Sells $90,602.76 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 11,269 shares of Fastly stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $90,602.76. Following the completion of the transaction, the chief financial officer now directly owns 508,543 shares in the company, valued at $4,088,685.72. This trade represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Fastly Trading Down 6.9 %

Shares of NYSE:FSLY traded down $0.54 during mid-day trading on Friday, reaching $7.28. 4,194,535 shares of the company’s stock were exchanged, compared to its average volume of 3,175,301. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.38 and a beta of 1.26. The business’s fifty day moving average price is $9.72 and its 200-day moving average price is $8.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $14.90.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. On average, research analysts predict that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Craig Hallum boosted their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. DA Davidson boosted their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Monday, December 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 target price (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Finally, Royal Bank of Canada decreased their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastly currently has a consensus rating of “Hold” and an average target price of $8.55.

Hedge Funds Weigh In On Fastly

Several hedge funds and other institutional investors have recently bought and sold shares of FSLY. Blue Trust Inc. lifted its holdings in Fastly by 15.2% in the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after buying an additional 2,296 shares during the period. International Assets Investment Management LLC lifted its holdings in Fastly by 308.0% in the third quarter. International Assets Investment Management LLC now owns 76,101 shares of the company’s stock valued at $5,760,000 after buying an additional 57,448 shares during the period. Entropy Technologies LP lifted its holdings in Fastly by 118.7% in the third quarter. Entropy Technologies LP now owns 39,803 shares of the company’s stock valued at $301,000 after buying an additional 21,600 shares during the period. Aigen Investment Management LP acquired a new position in Fastly in the third quarter valued at $89,000. Finally, Intech Investment Management LLC acquired a new position in Fastly in the third quarter valued at $328,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.