Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale Sells 35,509 Shares

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 35,509 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total value of $285,492.36. Following the completion of the transaction, the chief executive officer now directly owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, November 25th, Todd Nightingale sold 12,163 shares of Fastly stock. The shares were sold at an average price of $8.12, for a total value of $98,763.56.

Fastly Stock Down 6.9 %

FSLY stock opened at $7.28 on Monday. The stock’s fifty day simple moving average is $9.65 and its two-hundred day simple moving average is $8.14. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $14.90. The stock has a market cap of $1.02 billion, a P/E ratio of -6.38 and a beta of 1.26.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Analysts expect that Fastly, Inc. will post -0.78 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can boosted its position in Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after purchasing an additional 1,293,490 shares during the last quarter. Quadrature Capital Ltd boosted its position in Fastly by 84.2% in the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after purchasing an additional 51,224 shares during the last quarter. Penserra Capital Management LLC boosted its position in Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Fastly during the 3rd quarter valued at $400,000. Finally, Zacks Investment Management purchased a new position in shares of Fastly during the 3rd quarter valued at $914,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FSLY. Piper Sandler reiterated a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Oppenheimer upgraded 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. Robert W. Baird increased their target price on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada dropped their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, Craig Hallum increased their price target on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Fastly has a consensus rating of “Hold” and a consensus target price of $8.55.

About Fastly

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.