Fastly (NYSE:FSLY) Stock Price Down 4.5% – Should You Sell?

Shares of Fastly, Inc. (NYSE:FSLY) traded down 4.5% during trading on Thursday . The stock traded as low as $9.93 and last traded at $10.05. 977,020 shares were traded during mid-day trading, a decline of 73% from the average session volume of 3,591,485 shares. The stock had previously closed at $10.52.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. DA Davidson boosted their target price on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley lowered their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Royal Bank of Canada boosted their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.55.

Fastly Stock Performance

The stock has a market capitalization of $1.41 billion, a PE ratio of -9.25 and a beta of 1.27. The business’s 50 day moving average is $8.29 and its 200 day moving average is $7.48. 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 (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.33) earnings per share. On average, equities research analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ronald W. Kisling sold 16,102 shares of Fastly stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $100,637.50. Following the transaction, the chief financial officer now directly owns 542,462 shares in the company, valued at approximately $3,390,387.50. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00. Following the completion of the sale, the chief technology officer now owns 3,444,136 shares in the company, valued at $41,364,073.36. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,641 shares of company stock worth $1,740,518 over the last quarter. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Fastly by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock worth $22,831,000 after acquiring an additional 46,951 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Fastly in the 3rd quarter worth approximately $183,000. XTX Topco Ltd acquired a new position in shares of Fastly in the 3rd quarter valued at $400,000. Zacks Investment Management purchased a new position in Fastly in the 3rd quarter worth $914,000. Finally, Quadrature Capital Ltd lifted its holdings in shares of Fastly by 84.2% during 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 period. Hedge funds and other 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.