Insider Selling: Fastly, Inc. (NYSE:FSLY) CFO Sells 7,449 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the transaction, the chief financial officer now owns 558,564 shares in the company, valued at approximately $4,044,003.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Fastly Trading Up 1.7 %

Shares of FSLY stock opened at $7.32 on Friday. The firm has a fifty day moving average of $6.72 and a 200-day moving average of $8.16. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -7.32 and a beta of 1.22. Fastly, Inc. has a 52-week low of $5.52 and a 52-week high of $25.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.32) earnings per share. On average, equities research analysts forecast that Fastly, Inc. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FSLY. Piper Sandler lowered shares of Fastly from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $6.00 in a research note on Thursday, August 8th. Morgan Stanley reduced their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Craig Hallum lowered their price objective on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.81.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Fastly by 5.1% during the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after acquiring an additional 657,334 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Fastly by 9.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after purchasing an additional 162,659 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Fastly in the 1st quarter worth about $13,724,000. CANADA LIFE ASSURANCE Co increased its position in shares of Fastly by 94.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after purchasing an additional 466,560 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Fastly by 461.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock valued at $5,575,000 after purchasing an additional 621,680 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

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.