Traders Purchase Large Volume of Fastly Call Options (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the target of some unusual options trading on Monday. Traders purchased 22,122 call options on the company. This represents an increase of approximately 82% compared to the average daily volume of 12,150 call options.

Wall Street Analysts Forecast Growth

FSLY has been the subject of a number of research reports. Oppenheimer started coverage on shares of Fastly in a report on Monday, November 17th. They issued a “market perform” rating for the company. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. KeyCorp raised shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a research report on Monday, December 15th. Royal Bank Of Canada raised their target price on shares of Fastly from $12.00 to $20.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, DA Davidson set a $13.00 target price on Fastly in a research note on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.14.

Insider Activity at Fastly

In other news, CEO Charles Lacey Compton III sold 14,797 shares of Fastly stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $18.88, for a total transaction of $279,367.36. Following the sale, the chief executive officer owned 584,519 shares in the company, valued at $11,035,718.72. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Artur Bergman sold 40,000 shares of Fastly stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $17.08, for a total transaction of $683,200.00. Following the sale, the chief technology officer directly owned 2,185,135 shares in the company, valued at $37,322,105.80. This trade represents a 1.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 919,242 shares of company stock worth $12,797,852. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of Fastly

Large investors have recently added to or reduced their stakes in the business. Amundi grew its position in Fastly by 11.3% in the first quarter. Amundi now owns 46,624 shares of the company’s stock worth $277,000 after buying an additional 4,724 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Fastly during the 1st quarter worth $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Fastly by 1.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock worth $2,950,000 after acquiring an additional 6,247 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Fastly by 963.6% during the first quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock worth $385,000 after purchasing an additional 55,118 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Fastly by 7.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after purchasing an additional 165,937 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

Fastly Price Performance

NYSE:FSLY opened at $21.14 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $12.00 and its 200 day moving average price is $10.16. Fastly has a 52-week low of $4.65 and a 52-week high of $21.23. The firm has a market cap of $3.21 billion, a P/E ratio of -22.02 and a beta of 1.03.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.