Oppenheimer Begins Coverage on Fastly (NYSE:FSLY)

Oppenheimer began coverage on shares of Fastly (NYSE:FSLY) in a research note published on Thursday morning. The firm issued a market perform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $9.00 price objective (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada cut their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, Citigroup lifted their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.55.

Fastly Price Performance

Shares of NYSE FSLY opened at $7.00 on Thursday. 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 company has a market cap of $995.39 million, a price-to-earnings ratio of -6.14 and a beta of 1.31. The stock’s 50-day moving average is $8.47 and its two-hundred day moving average is $8.19. Fastly has a 1-year low of $5.52 and a 1-year high of $14.12.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Analysts forecast that Fastly will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Todd Nightingale sold 35,509 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $285,492.36. Following the transaction, the chief executive officer now directly owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.09, for a total transaction of $100,900.00. Following the completion of the transaction, the chief technology officer now directly owns 3,434,136 shares in the company, valued at $34,650,432.24. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 173,699 shares of company stock valued at $1,587,050. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fastly

Hedge funds have recently made changes to their positions in the business. 180 Wealth Advisors LLC increased its position in Fastly by 2.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after acquiring an additional 1,695 shares during the period. AlphaQuest LLC increased its holdings in shares of Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after purchasing an additional 2,960 shares during the period. Rhumbline Advisers raised its stake in shares of Fastly by 1.6% during the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock worth $1,814,000 after purchasing an additional 3,081 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after purchasing an additional 3,221 shares during the period. Finally, Mariner LLC grew its position in Fastly by 18.0% in the 4th quarter. Mariner LLC now owns 22,868 shares of the company’s stock valued at $216,000 after buying an additional 3,487 shares during the last quarter. 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.