Fastly, Inc. (NYSE:FSLY) CFO Sells $87,240.00 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,000 shares of Fastly stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $7.27, for a total transaction of $87,240.00. Following the transaction, the chief financial officer now directly owns 593,506 shares in the company, valued at $4,314,788.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Fastly Stock Up 3.2 %

Fastly stock traded up $0.23 during mid-day trading on Wednesday, hitting $7.40. 1,299,423 shares of the company’s stock were exchanged, compared to its average volume of 3,915,637. The stock has a 50 day moving average of $8.51 and a two-hundred day moving average of $13.57. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.35. Fastly, Inc. has a 1-year low of $6.77 and a 1-year high of $25.87. The stock has a market cap of $1.01 billion, a P/E ratio of -7.37 and a beta of 1.14.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.02. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. The company had revenue of $133.52 million for the quarter, compared to the consensus estimate of $133.01 million. As a group, analysts anticipate that Fastly, Inc. will post -1.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cape Investment Advisory Inc. increased its stake in shares of Fastly by 27,666.7% in the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after purchasing an additional 4,150 shares during the period. Cambridge Trust Co. bought a new position in Fastly in the 1st quarter worth approximately $39,000. Vista Investment Partners LLC acquired a new position in shares of Fastly during the first quarter worth approximately $1,107,000. Price T Rowe Associates Inc. MD boosted its position in shares of Fastly by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,371 shares of the company’s stock valued at $1,069,000 after acquiring an additional 4,498 shares during the period. Finally, EntryPoint Capital LLC grew its stake in shares of Fastly by 41.1% in the first quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after acquiring an additional 1,643 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. DA Davidson lowered shares of Fastly from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $24.00 to $8.50 in a research note on Thursday, May 2nd. Bank of America cut Fastly from a “buy” rating to an “underperform” rating and cut their target price for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $19.00 to $16.00 in a research note on Monday, April 8th. Royal Bank of Canada decreased their price target on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 2nd. Finally, Citigroup reduced their price objective on Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Fastly currently has a consensus rating of “Hold” and an average target price of $14.44.

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.