Fastly, Inc. (NYSE:FSLY) CFO Sells $90,602.76 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 11,269 shares of Fastly stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total value of $90,602.76. Following the sale, the chief financial officer now owns 508,543 shares of the company’s stock, valued at approximately $4,088,685.72. This trade represents a 2.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Fastly Stock Down 6.9 %

Fastly stock opened at $7.28 on Friday. 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 business’s 50-day simple moving average is $9.65 and its two-hundred day simple moving average is $8.12. The company has a market cap of $1.02 billion, a PE ratio of -6.38 and a beta of 1.26. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $14.90.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Equities analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FSLY. Alyeska Investment Group L.P. purchased a new position in Fastly in the fourth quarter worth approximately $35,334,000. Bank of Montreal Can raised its stake in Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after buying an additional 1,293,490 shares in the last quarter. Marshall Wace LLP acquired a new stake in Fastly in the fourth quarter valued at $7,618,000. Penserra Capital Management LLC increased its position in shares of Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Fastly during the fourth quarter worth about $7,088,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FSLY has been the topic of a number of analyst reports. DA Davidson lifted their price target on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada reduced their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Citigroup increased their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Craig Hallum increased their price objective on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird increased their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.55.

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.