Fastly (NYSE:FSLY) Hits New 1-Year Low – Here’s Why

Fastly, Inc. (NYSE:FSLY)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $5.28 and last traded at $5.18, with a volume of 742765 shares changing hands. The stock had previously closed at $5.94.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FSLY. Oppenheimer started coverage on Fastly in a research note on Thursday, March 20th. They issued a “market perform” rating for the company. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada lowered their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup raised their target price on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.55.

Fastly Stock Performance

The business’s fifty day moving average price is $7.82 and its two-hundred day moving average price is $8.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock has a market capitalization of $733.56 million, a P/E ratio of -4.52 and a beta of 1.43.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. As a group, sell-side analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Fastly

In related news, CFO Ronald W. Kisling sold 6,038 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total transaction of $57,059.10. Following the completion of the transaction, the chief financial officer now owns 519,812 shares in the company, valued at $4,912,223.40. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Artur Bergman sold 8,049 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.04, for a total value of $80,811.96. Following the completion of the transaction, the chief technology officer now directly owns 3,426,087 shares in the company, valued at $34,397,913.48. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,699 shares of company stock worth $1,561,990 over the last quarter. Insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

A number of large investors have recently made changes to their positions in the stock. AlphaQuest LLC lifted its holdings in 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 in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Fastly by 128.9% during the fourth 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 in the last quarter. FMR LLC boosted 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 during the period. Wealthfront Advisers LLC bought a new position in Fastly in the fourth quarter worth approximately $72,000. Finally, Canada Pension Plan Investment Board bought a new position in Fastly in the fourth quarter worth approximately $82,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

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.