Fastly (NYSE:FSLY) Trading Up 5.8%

Fastly, Inc. (NYSE:FSLY) was up 5.8% during trading on Monday . The company traded as high as $6.02 and last traded at $6.00. Approximately 2,674,586 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 3,821,419 shares. The stock had previously closed at $5.67.

Wall Street Analysts Forecast Growth

Several research firms have commented on FSLY. Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $18.00 to $8.00 in a research report on Thursday, May 2nd. Craig Hallum reduced their price target on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research report on Thursday. Royal Bank of Canada lowered their price objective on Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. Citigroup reduced their target price on Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, Raymond James reduced their price objective on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.93.

Fastly Stock Up 7.1 %

The firm has a 50-day moving average price of $7.41 and a two-hundred day moving average price of $11.46. The company has a market capitalization of $829.39 million, a P/E ratio of -6.06 and a beta of 1.13. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The company had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. During the same period last year, the business posted ($0.32) EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Fastly, Inc. will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ronald W. Kisling sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $7.27, for a total transaction of $87,240.00. Following the completion of the transaction, the chief financial officer now directly owns 593,506 shares of the company’s stock, valued at approximately $4,314,788.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Todd Nightingale sold 65,447 shares of Fastly stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $8.84, for a total value of $578,551.48. Following the completion of the sale, the chief executive officer now directly owns 1,741,181 shares of the company’s stock, valued at approximately $15,392,040.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 12,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $7.27, for a total transaction of $87,240.00. Following the completion of the transaction, the chief financial officer now directly owns 593,506 shares of the company’s stock, valued at $4,314,788.62. The disclosure for this sale can be found here. Insiders sold a total of 135,217 shares of company stock valued at $1,176,853 over the last ninety days. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FSLY. Hsbc Holdings PLC lifted its position in shares of Fastly by 118.9% in the second quarter. Hsbc Holdings PLC now owns 29,703 shares of the company’s stock valued at $218,000 after buying an additional 16,131 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in Fastly during the 2nd quarter valued at $586,000. Daiwa Securities Group Inc. increased its holdings in shares of Fastly by 95.3% in the second 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. Arizona State Retirement System raised its position in shares of Fastly by 10.3% in the second 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 period. Finally, Rhumbline Advisers lifted its stake in shares of Fastly by 8.5% during the 2nd quarter. Rhumbline Advisers now owns 189,832 shares of the company’s stock worth $1,399,000 after buying an additional 14,813 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.