Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 2,920 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 2,920 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.12, for a total transaction of $23,710.40. Following the sale, the chief financial officer now owns 539,542 shares in the company, valued at $4,381,081.04. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Fastly Stock Down 0.4 %

Shares of Fastly stock traded down $0.03 on Wednesday, hitting $7.92. 1,606,142 shares of the company traded hands, compared to its average volume of 3,524,477. 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 12-month low of $5.52 and a 12-month high of $25.87. The company has a 50-day moving average price of $7.33 and a 200 day moving average price of $7.27. The company has a market cap of $1.11 billion, a PE ratio of -7.28 and a beta of 1.24.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that Fastly, Inc. will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in Fastly in the second quarter valued at about $38,000. Cambridge Trust Co. bought a new position in shares of Fastly in the first quarter worth about $39,000. FMR LLC raised its position in shares of Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares during the last quarter. EMC Capital Management increased its position in Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after purchasing an additional 6,000 shares during the period. Finally, Cape Investment Advisory Inc. boosted its stake in shares of Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after purchasing an additional 4,150 shares during the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FSLY shares. Royal Bank of Canada increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Robert W. Baird raised their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum increased their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Piper Sandler raised their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Morgan Stanley dropped their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.94.

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.