Fastly, Inc. (NYSE:FSLY) Short Interest Update

Fastly, Inc. (NYSE:FSLY) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 9,310,000 shares, a decline of 7.3% from the January 15th total of 10,040,000 shares. Based on an average daily volume of 3,250,000 shares, the days-to-cover ratio is presently 2.9 days.

Fastly Price Performance

Shares of FSLY traded up $0.12 during mid-day trading on Tuesday, reaching $8.19. The stock had a trading volume of 3,283,841 shares, compared to its average volume of 3,163,236. 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 has a 12 month low of $5.52 and a 12 month high of $15.80. The business has a fifty day moving average of $9.87 and a 200 day moving average of $8.12. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -7.51 and a beta of 1.26.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. Equities analysts predict that Fastly will post -0.86 EPS for the current year.

Insider Transactions at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 12,500 shares of Fastly stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $125,000.00. Following the completion of the sale, the chief financial officer now owns 525,850 shares of the company’s stock, valued at approximately $5,258,500. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $10.58, for a total value of $105,800.00. Following the completion of the sale, the chief technology officer now owns 3,364,136 shares of the company’s stock, valued at $35,592,558.88. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,312 shares of company stock valued at $1,770,133 in the last quarter. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Fastly

Institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC boosted its stake in Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after buying an additional 2,960 shares during the last quarter. FMR LLC grew its holdings in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp increased its position in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after purchasing an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Fastly in the 4th quarter worth $72,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Fastly in the 4th quarter worth about $82,000. Institutional investors own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FSLY. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research report on Monday, December 2nd. Citigroup raised their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Royal Bank of Canada cut their price objective on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Fastly in a report on Thursday, February 13th. Finally, Craig Hallum boosted their price target on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.55.

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.