Fastly Target of Unusually Large Options Trading (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the target of unusually large options trading on Monday. Stock traders bought 25,708 call options on the stock. This represents an increase of 55% compared to the average daily volume of 16,611 call options.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 275,234 shares of Fastly stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $20.56, for a total value of $5,658,811.04. Following the completion of the sale, the chief technology officer directly owned 1,909,901 shares of the company’s stock, valued at approximately $39,267,564.56. The trade was a 12.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Lacey Compton III sold 73,206 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $20.94, for a total value of $1,532,933.64. Following the completion of the sale, the chief executive officer owned 875,831 shares in the company, valued at $18,339,901.14. This represents a 7.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,578,702 shares of company stock worth $29,758,555 over the last ninety days. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

A number of institutional investors have recently bought and sold shares of FSLY. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Fastly in the 4th quarter valued at about $41,000. Align Financial LLC acquired a new position in Fastly during the fourth quarter worth approximately $41,000. Byrne Asset Management LLC acquired a new position in Fastly during the third quarter worth approximately $43,000. C M Bidwell & Associates Ltd. purchased a new stake in Fastly in the fourth quarter valued at approximately $54,000. Finally, Quarry LP purchased a new stake in Fastly in the third quarter valued at approximately $49,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FSLY shares. Royal Bank Of Canada increased their price target on shares of Fastly from $12.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. DA Davidson set a $13.00 target price on shares of Fastly in a report on Thursday, February 12th. KeyCorp upgraded shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price target for the company in a research note on Monday, December 15th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Finally, Piper Sandler reissued a “neutral” rating and set a $14.00 target price (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Fastly has a consensus rating of “Hold” and a consensus target price of $13.14.

Fastly Stock Up 10.6%

Shares of FSLY traded up $2.68 during midday trading on Monday, reaching $27.88. The stock had a trading volume of 8,604,288 shares, compared to its average volume of 11,480,930. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -29.07 and a beta of 0.88. The company’s fifty day simple moving average is $15.42 and its two-hundred day simple moving average is $11.62. Fastly has a 1-year low of $4.65 and a 1-year high of $28.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

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.