Ronald W. Kisling Sells 6,038 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 6,038 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total value of $57,059.10. Following the sale, the chief financial officer now owns 519,812 shares of the company’s stock, valued at approximately $4,912,223.40. This trade represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Fastly Trading Up 3.3 %

FSLY traded up $0.31 during trading hours on Tuesday, reaching $9.60. The company’s stock had a trading volume of 1,666,508 shares, compared to its average volume of 2,202,801. The business’s 50-day moving average is $9.18 and its 200-day moving average is $7.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a market cap of $1.35 billion, a PE ratio of -8.80 and a beta of 1.24. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new stake in shares of Fastly in the 2nd quarter valued at approximately $38,000. 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. Aigen Investment Management LP acquired a new stake in Fastly in the 3rd quarter valued at approximately $89,000. Lombard Odier Asset Management USA Corp acquired a new position in Fastly during the second quarter worth $114,000. Finally, Blue Trust Inc. boosted its position in shares of Fastly by 15.2% during the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after buying an additional 2,296 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FSLY. Royal Bank of Canada lifted their target price on shares of Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Monday, December 2nd. Piper Sandler increased their price objective on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Craig Hallum raised their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Citigroup upped their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.