Insider Selling: Fastly, Inc. (NYSE:FSLY) CFO Sells 6,038 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 6,038 shares of Fastly stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total transaction of $57,059.10. Following the transaction, the chief financial officer now directly owns 519,812 shares of the company’s stock, valued at approximately $4,912,223.40. This trade represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Fastly Stock Up 7.8 %

Shares of NYSE FSLY opened at $10.45 on Friday. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87. The stock’s fifty day moving average is $9.28 and its 200 day moving average is $7.84. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock has a market capitalization of $1.47 billion, a P/E ratio of -9.58 and a beta of 1.24.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup lifted their target price on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Royal Bank of Canada upped their target price on Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Robert W. Baird lifted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Monday, December 2nd. Finally, Piper Sandler increased their price objective on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.85.

Institutional Investors Weigh In On Fastly

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Wealth Effects LLC increased its stake in shares of Fastly by 21.1% in the 4th quarter. Wealth Effects LLC now owns 28,651 shares of the company’s stock valued at $270,000 after purchasing an additional 5,000 shares during the last quarter. SG Americas Securities LLC grew its position in Fastly by 56.6% in the fourth quarter. SG Americas Securities LLC now owns 346,632 shares of the company’s stock valued at $3,272,000 after acquiring an additional 125,275 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in Fastly by 2.5% during the fourth quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock worth $648,000 after acquiring an additional 1,695 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Fastly in the 3rd quarter valued at approximately $183,000. 79.71% of the stock is currently owned by institutional investors.

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.