Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale Sells 12,163 Shares

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 12,163 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.12, for a total value of $98,763.56. Following the completion of the transaction, the chief executive officer now owns 1,588,810 shares of the company’s stock, valued at $12,901,137.20. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Todd Nightingale also recently made the following trade(s):

• On Monday, November 18th, Todd Nightingale sold 49,816 shares of Fastly stock. The shares were sold at an average price of $6.25, for a total value of $311,350.00.

Fastly Price Performance

Fastly stock opened at $7.93 on Thursday. The firm has a fifty day moving average of $7.35 and a 200-day moving average of $7.27. Fastly, Inc. has a 52-week low of $5.52 and a 52-week high of $25.87. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.11 billion, a P/E ratio of -7.27 and a beta of 1.24.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The firm had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.33) EPS. As a group, analysts predict that Fastly, Inc. will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Fastly

Several hedge funds have recently modified their holdings of FSLY. Geode Capital Management LLC boosted its holdings in Fastly by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock worth $22,831,000 after acquiring an additional 46,951 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Fastly in the third quarter valued at $183,000. XTX Topco Ltd acquired a new stake in Fastly during the 3rd quarter valued at $400,000. Zacks Investment Management acquired a new stake in Fastly during the 3rd quarter valued at $914,000. Finally, Quadrature Capital Ltd increased its stake in Fastly by 84.2% during the 3rd quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after buying an additional 51,224 shares during the period. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSLY has been the topic of a number of research analyst reports. Craig Hallum raised their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Morgan Stanley dropped their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. DA Davidson lifted their price target on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.94.

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.