Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 7,449 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the completion of the transaction, the chief financial officer now directly owns 558,564 shares in the company, valued at $4,044,003.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fastly Price Performance

Shares of FSLY stock opened at $7.31 on Friday. The stock’s 50-day moving average is $6.72 and its 200 day moving average is $8.19. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The company has a market cap of $998.82 million, a P/E ratio of -7.31 and a beta of 1.22.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The business had revenue of $132.37 million for the quarter, compared to analysts’ expectations of $131.62 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned ($0.32) EPS. Research analysts predict that Fastly, Inc. will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fastly

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in shares of Fastly during the 1st quarter valued at $13,724,000. Vanguard Group Inc. increased its position in Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock valued at $176,152,000 after buying an additional 657,334 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock valued at $5,575,000 after buying an additional 621,680 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Fastly by 94.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after acquiring an additional 466,560 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Fastly during the second quarter worth about $1,233,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Craig Hallum dropped their price target on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, Piper Sandler cut shares of Fastly from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $6.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, Fastly has an average rating of “Hold” and a consensus target price of $7.81.

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.