Fastly, Inc. (NYSE:FSLY) Short Interest Update

Fastly, Inc. (NYSE:FSLY) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 9,260,000 shares, a decline of 8.5% from the December 31st total of 10,120,000 shares. Based on an average daily trading volume, of 3,210,000 shares, the days-to-cover ratio is currently 2.9 days.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 16,922 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $105,762.50. Following the sale, the chief technology officer now owns 6,138,900 shares of the company’s stock, valued at $38,368,125. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 16,102 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $100,637.50. Following the completion of the transaction, the chief financial officer now directly owns 542,462 shares of the company’s stock, valued at $3,390,387.50. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 289,330 shares of company stock worth $2,476,849 in the last quarter. 6.70% of the stock is owned by company insiders.

Institutional Trading of Fastly

A number of hedge funds have recently bought and sold shares of FSLY. Hsbc Holdings PLC increased its holdings in Fastly by 118.9% during the 2nd quarter. Hsbc Holdings PLC now owns 29,703 shares of the company’s stock worth $218,000 after purchasing an additional 16,131 shares during the period. Marshall Wace LLP increased its holdings in Fastly by 1,197.4% during the 2nd quarter. Marshall Wace LLP now owns 151,172 shares of the company’s stock valued at $1,114,000 after acquiring an additional 139,520 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Fastly by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock worth $503,000 after purchasing an additional 2,128 shares during the last quarter. Algert Global LLC boosted its position in shares of Fastly by 265.0% in the second quarter. Algert Global LLC now owns 39,419 shares of the company’s stock worth $291,000 after acquiring an additional 28,619 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Fastly during the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FSLY. DA Davidson lifted their target price on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Monday, December 2nd. Citigroup upped their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Royal Bank of Canada lifted their target price on Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Finally, Craig Hallum upped their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.85.

Fastly Trading Down 2.7 %

Fastly stock traded down $0.29 during trading hours on Monday, hitting $10.19. The company had a trading volume of 1,988,709 shares, compared to its average volume of 2,316,595. Fastly has a 1 year low of $5.52 and a 1 year high of $25.87. The firm has a market cap of $1.43 billion, a P/E ratio of -9.34 and a beta of 1.24. The company has a 50-day moving average price of $9.78 and a two-hundred day moving average price of $7.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY) last posted its quarterly earnings data 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. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The firm had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Fastly will post -0.86 earnings per share for the current year.

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.