Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale Sells 8,595 Shares

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 8,595 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total transaction of $59,047.65. Following the completion of the transaction, the chief executive officer now owns 1,544,706 shares of the company’s stock, valued at $10,612,130.22. This represents a 0.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, February 19th, Todd Nightingale sold 35,509 shares of Fastly stock. The shares were sold at an average price of $8.04, for a total transaction of $285,492.36.

Fastly Trading Down 3.5 %

Shares of FSLY traded down $0.25 on Thursday, hitting $6.74. 2,681,708 shares of the stock traded hands, compared to its average volume of 3,139,803. The firm has a market capitalization of $944.92 million, a P/E ratio of -5.91 and a beta of 1.26. 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, Inc. has a 1 year low of $5.52 and a 1 year high of $14.76. The stock’s 50 day moving average is $9.41 and its two-hundred day moving average is $8.14.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. As a group, sell-side analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on FSLY shares. Craig Hallum boosted their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Citigroup boosted their price objective on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Oppenheimer upgraded 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. Royal Bank of Canada lowered their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Finally, DA Davidson lifted their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fastly has a consensus rating of “Hold” and an average target price of $8.55.

Institutional Investors Weigh In On Fastly

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in shares of Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares in the last quarter. Quadrature Capital Ltd lifted its position in Fastly by 84.2% during the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock valued at $848,000 after buying an additional 51,224 shares in the last quarter. Penserra Capital Management LLC grew its stake in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after buying an additional 801,968 shares during the period. XTX Topco Ltd acquired a new stake in shares of Fastly in the third quarter worth $400,000. Finally, Zacks Investment Management purchased a new position in shares of Fastly in the 3rd quarter valued at $914,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.