Fastly, Inc. (NYSE:FSLY) Receives Consensus Rating of “Hold” from Analysts

Fastly, Inc. (NYSE:FSLY) has been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $12.93.

Several research analysts recently issued reports on FSLY shares. DA Davidson downgraded shares of Fastly from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $24.00 to $8.50 in a research report on Thursday, May 2nd. Piper Sandler reduced their target price on shares of Fastly from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Citigroup reduced their target price on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Royal Bank of Canada reduced their target price on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 2nd. Finally, Bank of America lowered shares of Fastly from a “buy” rating to an “underperform” rating and reduced their target price for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd.

Fastly Stock Down 2.2 %

Shares of NYSE FSLY opened at $7.51 on Monday. The firm’s 50-day simple moving average is $7.57 and its 200 day simple moving average is $11.92. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -7.51 and a beta of 1.13. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.35. Fastly has a 12-month low of $6.77 and a 12-month high of $25.87.

Insider Activity at Fastly

In related news, CTO Artur Bergman sold 10,928 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total value of $96,603.52. Following the sale, the chief technology officer now directly owns 6,244,124 shares in the company, valued at approximately $55,198,056.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fastly news, CTO Artur Bergman sold 10,928 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $96,603.52. Following the sale, the chief technology officer now directly owns 6,244,124 shares in the company, valued at approximately $55,198,056.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Nightingale sold 65,447 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $8.84, for a total transaction of $578,551.48. Following the sale, the chief executive officer now owns 1,741,181 shares in the company, valued at $15,392,040.04. The disclosure for this sale can be found here. Insiders have sold 135,217 shares of company stock worth $1,176,853 in the last ninety days. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Several hedge funds have recently bought and sold shares of FSLY. Jennison Associates LLC acquired a new stake in Fastly during the 1st quarter worth approximately $13,724,000. First Trust Advisors LP grew its stake in shares of Fastly by 21.8% during the 4th quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after acquiring an additional 998,749 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after acquiring an additional 657,334 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Fastly by 94.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after acquiring an additional 466,560 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Fastly during the 4th quarter worth approximately $8,014,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.