Fastly (NYSE:FSLY) Trading Down 6.4% – What’s Next?

Fastly, Inc. (NYSE:FSLY)’s share price fell 6.4% during mid-day trading on Friday . The stock traded as low as $8.79 and last traded at $8.82. 461,136 shares traded hands during trading, a decline of 77% from the average session volume of 2,043,911 shares. The stock had previously closed at $9.42.

Analyst Ratings Changes

FSLY has been the subject of a number of research reports. Oppenheimer raised shares of 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. Craig Hallum lifted their price objective on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Robert W. Baird boosted their price target on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler increased their target price on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.85.

Fastly Trading Down 5.8 %

The firm’s 50-day simple moving average is $8.96 and its 200-day simple moving average is $7.71. The firm has a market capitalization of $1.24 billion, a PE ratio of -8.14 and a beta of 1.24. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The firm had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.33) earnings per share. Equities analysts expect that Fastly, Inc. will post -0.86 earnings per share for the current year.

Insider Activity

In other Fastly news, CEO Todd Nightingale sold 49,816 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $311,350.00. Following the completion of the transaction, the chief executive officer now owns 1,600,973 shares of the company’s stock, valued at approximately $10,006,081.25. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total value of $53,930.76. Following the transaction, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,190 shares of company stock valued at $2,047,230. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after buying an additional 2,128 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Fastly by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after buying an additional 2,296 shares during the period. Arizona State Retirement System boosted its stake in shares of Fastly by 10.3% in the 2nd quarter. Arizona State Retirement System now owns 35,690 shares of the company’s stock worth $263,000 after buying an additional 3,338 shares during the last quarter. FMR LLC increased its position in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Fastly by 95.3% during the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after acquiring an additional 4,318 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.