Fastly, Inc. (NYSE:FSLY) Short Interest Down 8.5% in December

Fastly, Inc. (NYSE:FSLY) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 9,260,000 shares, a decline of 8.5% from the December 15th total of 10,120,000 shares. Based on an average daily trading volume, of 3,210,000 shares, the short-interest ratio is presently 2.9 days.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FSLY. Royal Bank of Canada upped their price target on shares of Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Piper Sandler upped their target price on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Robert W. Baird increased their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Citigroup increased their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and an average target price of $8.85.

Fastly Stock Down 1.1 %

Shares of NYSE FSLY opened at $9.31 on Monday. Fastly has a 1-year low of $5.52 and a 1-year high of $25.87. The business’s 50 day moving average is $9.14 and its two-hundred day moving average is $7.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. During the same quarter in the prior year, the firm posted ($0.33) EPS. Fastly’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that Fastly will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Fastly

In related news, CTO Artur Bergman sold 49,178 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the transaction, the chief technology officer now owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. This trade represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 16,102 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $100,637.50. Following the sale, the chief financial officer now directly owns 542,462 shares of the company’s stock, valued at approximately $3,390,387.50. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,741 shares of company stock worth $1,993,300. Insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Several institutional investors have recently added to or reduced their stakes in FSLY. Penserra Capital Management LLC lifted its stake in shares of Fastly by 18.8% during the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Fastly by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock worth $22,831,000 after purchasing an additional 46,951 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Fastly by 11,140.2% during the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Fastly by 18.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after purchasing an additional 161,070 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Fastly by 461.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after buying an additional 621,680 shares during the last quarter. 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.