Fastly, Inc. (NYSE:FSLY) Sees Significant Decline in Short Interest

Fastly, Inc. (NYSE:FSLY) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 9,310,000 shares, a decline of 7.3% from the January 15th total of 10,040,000 shares. Based on an average trading volume of 3,250,000 shares, the short-interest ratio is currently 2.9 days.

Fastly Trading Up 1.4 %

Shares of NYSE:FSLY traded up $0.12 during midday trading on Monday, hitting $8.09. The company had a trading volume of 5,269,424 shares, compared to its average volume of 2,172,157. Fastly has a 12 month low of $5.52 and a 12 month high of $18.42. 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 stock has a market cap of $1.13 billion, a price-to-earnings ratio of -7.42 and a beta of 1.26. The firm has a fifty day simple moving average of $9.93 and a 200 day simple moving average of $8.11.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. On average, analysts predict that Fastly will post -0.86 EPS for the current year.

Insider Activity at Fastly

In other news, CTO Artur Bergman sold 29,858 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.07, for a total transaction of $300,670.06. Following the sale, the chief technology officer now owns 6,088,236 shares of the company’s stock, valued at $61,308,536.52. The trade was a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Nightingale sold 12,163 shares of Fastly stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.12, for a total value of $98,763.56. Following the transaction, the chief executive officer now owns 1,588,810 shares of the company’s stock, valued at $12,901,137.20. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,312 shares of company stock worth $1,770,133 in the last quarter. Company insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaQuest LLC boosted its holdings in shares of Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after acquiring an additional 2,960 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after acquiring an additional 3,221 shares during the period. FMR LLC boosted its holdings in shares of Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of Fastly in the fourth quarter valued at approximately $72,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Fastly in the fourth quarter valued at approximately $82,000. Institutional investors own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. DA Davidson increased their price objective on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday. Craig Hallum increased their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.55.

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.