Fastly, Inc. (NYSE:FSLY) CEO Sells $285,492.36 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 35,509 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total transaction of $285,492.36. Following the sale, the chief executive officer now directly owns 1,553,301 shares of the company’s stock, valued at approximately $12,488,540.04. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Todd Nightingale also recently made the following trade(s):

• On Monday, November 25th, Todd Nightingale sold 12,163 shares of Fastly stock. The stock was sold at an average price of $8.12, for a total transaction of $98,763.56.

Fastly Stock Down 6.9 %

Shares of Fastly stock traded down $0.54 on Friday, hitting $7.28. 4,194,535 shares of the company’s stock traded hands, compared to its average volume of 3,175,301. The stock has a market cap of $1.02 billion, a P/E ratio of -6.38 and a beta of 1.26. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $9.72 and its 200 day moving average is $8.12. Fastly, Inc. has a 52-week low of $5.52 and a 52-week high of $14.90.

Fastly (NYSE:FSLY) last released its earnings results 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 29.07% and a negative return on equity of 12.75%. Equities analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FSLY. Robert W. Baird increased their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler reissued 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. Craig Hallum upped their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. 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. Finally, DA Davidson upped their price target on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.55.

Hedge Funds Weigh In On Fastly

Institutional investors and hedge funds have recently made changes to their positions in the business. AlphaQuest LLC boosted 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 valued at $44,000 after buying an additional 2,960 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after buying an additional 3,221 shares during the last quarter. FMR LLC boosted its stake in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Fastly during the 4th quarter valued at approximately $72,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Fastly during the 4th quarter valued at approximately $82,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

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.