Insider Selling: Fastly, Inc. (NYSE:FSLY) CFO Sells 2,063 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 2,063 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $6.87, for a total value of $14,172.81. Following the transaction, the chief financial officer now directly owns 506,480 shares in the company, valued at $3,479,517.60. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Fastly Stock Performance

Shares of Fastly stock traded down $0.25 during trading hours on Thursday, hitting $6.74. 2,681,708 shares of the company’s stock traded hands, compared to its average volume of 3,139,803. The company has a fifty day simple moving average of $9.41 and a 200-day simple moving average of $8.14. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a market capitalization of $944.92 million, a price-to-earnings ratio of -5.91 and a beta of 1.26. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $14.76.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank of Canada cut their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. 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 report on Thursday, February 13th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Monday, December 2nd. Robert W. Baird raised their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Citigroup upped their target price on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Fastly has a consensus rating of “Hold” and an average price target of $8.55.

Hedge Funds Weigh In On Fastly

Several institutional investors have recently bought and sold shares of FSLY. 180 Wealth Advisors LLC raised its stake in shares of Fastly by 2.5% in the fourth quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after buying an additional 1,695 shares during the period. AlphaQuest LLC grew its stake in shares of Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after acquiring an additional 2,960 shares during the period. Rhumbline Advisers increased its holdings in Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock worth $1,814,000 after acquiring an additional 3,081 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after acquiring an additional 3,221 shares during the period. Finally, Mariner LLC boosted its position in Fastly by 18.0% during the fourth quarter. Mariner LLC now owns 22,868 shares of the company’s stock worth $216,000 after purchasing an additional 3,487 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

About Fastly

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.