Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 12,000 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $6.32, for a total value of $75,840.00. Following the completion of the sale, the chief financial officer now owns 671,035 shares of the company’s stock, valued at $4,240,941.20. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Fastly Stock Performance

Shares of NYSE:FSLY traded up $0.20 during trading hours on Wednesday, hitting $6.62. The stock had a trading volume of 1,851,542 shares, compared to its average volume of 3,330,309. The stock’s fifty day simple moving average is $8.08 and its 200 day simple moving average is $8.27. The firm has a market capitalization of $942.03 million, a price-to-earnings ratio of -5.81 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $14.12.

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

Hedge Funds Weigh In On Fastly

Several hedge funds have recently modified their holdings of the company. AlphaQuest LLC boosted its stake in Fastly by 169.1% during the fourth 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 boosted its position in shares of Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after purchasing an additional 3,221 shares in the last quarter. FMR LLC grew its stake in shares of Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Fastly in the 4th quarter worth approximately $72,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Fastly during the fourth quarter valued at approximately $82,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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