Brokerages Set Fastly, Inc. (NYSE:FSLY) PT at $16.25

Fastly, Inc. (NYSE:FSLY) has been given a consensus recommendation of “Hold” by the eleven brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $16.25.

Several brokerages have recently issued reports on FSLY. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, April 14th. Piper Sandler restated a “neutral” rating and issued a $14.00 price objective (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Royal Bank Of Canada upped their price objective on Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Evercore began coverage on Fastly in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price objective on the stock. Finally, William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th.

Insider Buying and Selling

In related news, CEO Charles Lacey Compton III sold 73,206 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $20.94, for a total transaction of $1,532,933.64. Following the transaction, the chief executive officer directly owned 875,831 shares in the company, valued at approximately $18,339,901.14. This represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 275,234 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $20.56, for a total value of $5,658,811.04. Following the transaction, the chief technology officer owned 1,909,901 shares in the company, valued at $39,267,564.56. This trade represents a 12.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,474,553 shares of company stock worth $29,185,297. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fastly

Several large investors have recently added to or reduced their stakes in the business. RFG Advisory LLC purchased a new position in Fastly during the first quarter worth about $630,000. Banque Cantonale Vaudoise purchased a new position in Fastly during the first quarter worth about $372,000. Focused Wealth Management Inc purchased a new position in Fastly during the first quarter worth about $223,000. SG Americas Securities LLC lifted its position in Fastly by 90.7% during the first quarter. SG Americas Securities LLC now owns 685,415 shares of the company’s stock worth $19,918,000 after buying an additional 326,087 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Fastly by 20.9% during the fourth quarter. Hsbc Holdings PLC now owns 35,464 shares of the company’s stock worth $362,000 after buying an additional 6,140 shares during the period. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Stock Up 4.5%

Shares of NYSE:FSLY opened at $26.56 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly has a 52-week low of $5.18 and a 52-week high of $34.82. The stock’s fifty day simple moving average is $23.71 and its 200-day simple moving average is $14.67. The company has a market capitalization of $4.03 billion, a P/E ratio of -27.67 and a beta of 0.62.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.