Fastly, Inc. (NYSE:FSLY) CFO Sells $125,000.00 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,500 shares of Fastly stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $125,000.00. Following the sale, the chief financial officer now directly owns 525,850 shares of the company’s stock, valued at $5,258,500. This represents a 2.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Fastly Stock Down 2.8 %

Fastly stock opened at $9.45 on Friday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.33 billion, a P/E ratio of -8.67 and a beta of 1.24. The stock’s fifty day simple moving average is $8.96 and its 200-day simple moving average is $7.71. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FSLY. Raymond James cut Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Royal Bank of Canada increased their price objective on shares of Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Craig Hallum upped their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Robert W. Baird increased their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler increased their price target on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Fastly has a consensus rating of “Hold” and an average price target of $8.85.

Institutional Trading of Fastly

Several hedge funds have recently modified their holdings of FSLY. Point72 DIFC Ltd acquired a new stake in Fastly in the second quarter valued at $38,000. FMR LLC boosted its holdings in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after buying an additional 4,318 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Fastly in the third quarter valued at about $89,000. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in Fastly in the 2nd quarter valued at approximately $114,000. 79.71% of the stock is owned by institutional investors and hedge funds.

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.