Fastly (NYSE:FSLY) Trading Down 4.5% – Should You Sell?

Fastly, Inc. (NYSE:FSLY)’s share price was down 4.5% on Monday . The stock traded as low as $31.62 and last traded at $31.9940. Approximately 3,092,070 shares were traded during trading, a decline of 73% from the average daily volume of 11,538,441 shares. The stock had previously closed at $33.50.

Analyst Ratings Changes

Several brokerages have recently issued reports on FSLY. DA Davidson set a $13.00 target price on Fastly in a research report on Thursday, February 12th. Citigroup lifted their price target on Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. KeyCorp upgraded Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Monday, December 15th. Piper Sandler reissued a “neutral” rating and set a $14.00 price objective (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Finally, William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.14.

Fastly Price Performance

The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.80 billion, a PE ratio of -32.92 and a beta of 0.62. The firm has a 50 day moving average of $20.39 and a two-hundred day moving average of $13.48.

Insider Transactions at Fastly

In other news, insider Scott R. Lovett sold 41,682 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $26.45, for a total value of $1,102,488.90. Following the sale, the insider directly owned 1,503,878 shares of the company’s stock, valued at approximately $39,777,573.10. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Lacey Compton III sold 36,694 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $20.69, for a total value of $759,198.86. Following the transaction, the chief executive officer owned 1,212,778 shares of the company’s stock, valued at $25,092,376.82. The trade was a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,498,702 shares of company stock valued at $28,938,555. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Divisadero Street Capital Management LP bought a new position in Fastly in the 3rd quarter valued at approximately $21,174,000. Vanguard Group Inc. increased its holdings in shares of Fastly by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock worth $142,500,000 after purchasing an additional 554,909 shares in the last quarter. Knights of Columbus Asset Advisors LLC purchased a new position in shares of Fastly in the third quarter worth $1,002,000. Picton Mahoney Asset Management purchased a new position in shares of Fastly in the third quarter worth $781,000. Finally, Hussman Strategic Advisors Inc. lifted its holdings in shares of Fastly by 100.0% during the third quarter. Hussman Strategic Advisors Inc. now owns 210,000 shares of the company’s stock valued at $1,796,000 after purchasing an additional 105,000 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.

About Fastly

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.