Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 12,500 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,500 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $125,000.00. Following the transaction, the chief financial officer now directly owns 525,850 shares in the company, valued at $5,258,500. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Fastly Price Performance

Shares of NYSE:FSLY opened at $9.45 on Thursday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -8.67 and a beta of 1.24. The firm has a fifty day moving average price of $8.92 and a 200 day moving average price of $7.70. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FSLY. Royal Bank of Canada raised their target price on Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Monday, December 2nd. Piper Sandler lifted their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird increased their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.85.

Hedge Funds Weigh In On Fastly

Several institutional investors have recently bought and sold shares of the business. Bank of Montreal Can raised its position in shares of Fastly by 11,140.2% during the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after buying an additional 1,293,490 shares in the last quarter. Quadrature Capital Ltd increased its stake in Fastly by 84.2% during the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after acquiring an additional 51,224 shares during the last quarter. Penserra Capital Management LLC raised its position in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after purchasing an additional 801,968 shares during the period. XTX Topco Ltd bought a new stake in shares of Fastly in the 3rd quarter valued at approximately $400,000. Finally, Zacks Investment Management bought a new stake in shares of Fastly in the 3rd quarter valued at approximately $914,000. Institutional investors own 79.71% of the company’s stock.

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.