Raymond James Lowers Fastly (NYSE:FSLY) to Market Perform

Raymond James lowered shares of Fastly (NYSE:FSLY) from a strong-buy rating to a market perform rating in a research report released on Tuesday morning, MarketBeat Ratings reports.

A number of other research firms also recently issued reports on FSLY. Craig Hallum decreased their price target on shares of Fastly from $10.00 to $6.00 and set a hold rating on the stock in a research note on Thursday, August 8th. Piper Sandler cut shares of Fastly from an overweight rating to a neutral rating and decreased their target price for the company from $10.00 to $6.00 in a research report on Thursday, August 8th. Finally, Morgan Stanley dropped their price target on Fastly from $12.00 to $7.00 and set an equal weight rating for the company in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $7.81.

Fastly Stock Up 3.7 %

FSLY stock opened at $7.63 on Tuesday. The business’s 50-day moving average price is $6.70 and its 200-day moving average price is $8.58. The stock has a market cap of $1.04 billion, a P/E ratio of -7.63 and a beta of 1.20. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35. Fastly has a twelve month low of $5.52 and a twelve month high of $25.87.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The business had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. During the same quarter in the prior year, the business posted ($0.32) EPS. Fastly’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Fastly will post -0.96 EPS for the current year.

Insider Buying and Selling

In other news, CEO Todd Nightingale sold 66,066 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $408,287.88. Following the transaction, the chief executive officer now owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Todd Nightingale sold 66,066 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88. Following the completion of the sale, the chief executive officer now directly owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Artur Bergman sold 16,748 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64. Following the completion of the transaction, the chief technology officer now owns 6,225,980 shares in the company, valued at approximately $38,476,556.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock valued at $903,011 in the last ninety days. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fastly

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Fastly during the fourth quarter valued at $8,014,000. TFO Wealth Partners LLC increased its position in Fastly by 41,123.8% during the 4th quarter. TFO Wealth Partners LLC now owns 8,657 shares of the company’s stock valued at $154,000 after purchasing an additional 8,636 shares during the period. Rafferty Asset Management LLC raised its holdings in shares of Fastly by 4.6% in the 4th quarter. Rafferty Asset Management LLC now owns 83,084 shares of the company’s stock valued at $1,479,000 after purchasing an additional 3,641 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Fastly by 21.8% in the 4th quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after purchasing an additional 998,749 shares during the period. Finally, CenterBook Partners LP bought a new position in shares of Fastly during the fourth quarter valued at approximately $348,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

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.