Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 12,500 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,500 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $125,000.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Fastly Stock Down 4.2 %

Shares of NYSE FSLY opened at $9.02 on Friday. The company has a 50 day simple moving average of $9.00 and a 200-day simple moving average of $7.72. The company has a market capitalization of $1.27 billion, a P/E ratio of -8.28 and a beta of 1.24. 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, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.33) EPS. On average, equities research analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current year.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Fastly by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock worth $503,000 after buying an additional 2,128 shares during the last quarter. Blue Trust Inc. increased its holdings in Fastly by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after purchasing an additional 2,296 shares during the last quarter. Arizona State Retirement System increased its holdings in Fastly by 10.3% in the 2nd quarter. Arizona State Retirement System now owns 35,690 shares of the company’s stock valued at $263,000 after purchasing an additional 3,338 shares during the last quarter. FMR LLC increased its holdings in Fastly by 124.2% in the 3rd 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 last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Fastly by 95.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after purchasing an additional 4,318 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler upped their price target on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. DA Davidson upped their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum upped their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. 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. Finally, Robert W. Baird upped their price target 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.85.

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.