Fastly (NYSE:FSLY) Shares Gap Down – Time to Sell?

Shares of Fastly, Inc. (NYSE:FSLY) gapped down before the market opened on Tuesday . The stock had previously closed at $9.87, but opened at $9.57. Fastly shares last traded at $9.27, with a volume of 2,575,584 shares.

Wall Street Analyst Weigh In

FSLY has been the subject of several research reports. Robert W. Baird lifted their price objective on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley reduced their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. DA Davidson raised their price target on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Fastly has an average rating of “Hold” and a consensus target price of $8.55.

Fastly Stock Performance

The stock has a 50-day moving average price of $7.53 and a 200 day moving average price of $7.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The firm has a market cap of $1.38 billion, a PE ratio of -9.00 and a beta of 1.27.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts forecast that Fastly, Inc. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 29,858 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.07, for a total transaction of $300,670.06. Following the transaction, the chief technology officer now owns 6,088,236 shares in the company, valued at $61,308,536.52. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Nightingale sold 49,816 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $311,350.00. Following the transaction, the chief executive officer now owns 1,600,973 shares in the company, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,600 shares of company stock valued at $1,402,681. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in shares of Fastly in the second quarter worth about $38,000. FMR LLC lifted its stake in shares of Fastly by 124.2% in 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 in the last quarter. EMC Capital Management lifted its stake in shares of Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after acquiring an additional 6,000 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Fastly by 95.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after acquiring an additional 4,318 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Fastly in the third quarter worth about $89,000. Institutional investors and hedge funds 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.