Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale Sells 49,816 Shares

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 49,816 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 value of $311,350.00. Following the sale, the chief executive officer now directly owns 1,600,973 shares of the company’s stock, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, August 23rd, Todd Nightingale sold 12,163 shares of Fastly stock. The stock was sold at an average price of $6.25, for a total transaction of $76,018.75.

Fastly Trading Down 3.4 %

FSLY opened at $6.48 on Thursday. 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, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87. The business has a 50 day moving average of $7.24 and a 200-day moving average of $7.30.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.33) earnings per share. As a group, research analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on FSLY. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Robert W. Baird increased their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. DA Davidson boosted their target price on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler increased their price target on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.94.

Institutional Trading of Fastly

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock valued at $176,152,000 after acquiring an additional 657,334 shares during the last quarter. Penserra Capital Management LLC boosted its holdings 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. Geode Capital Management LLC grew its position 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 purchasing an additional 46,951 shares during the period. Bank of Montreal Can grew its position in Fastly by 11,140.2% in the 3rd 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 period. Finally, Charles Schwab Investment Management Inc. raised its stake in Fastly by 18.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock valued at $8,006,000 after buying an additional 161,070 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

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.