Fastly, Inc. (NYSE:FSLY) CFO Sells $97,318.00 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 7,486 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the sale, the chief financial officer now owns 632,736 shares of the company’s stock, valued at approximately $8,225,568. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Fastly Stock Performance

Shares of FSLY traded down $0.14 during mid-day trading on Thursday, hitting $12.38. 2,216,954 shares of the company’s stock traded hands, compared to its average volume of 3,919,865. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. Fastly, Inc. has a 1 year low of $11.61 and a 1 year high of $25.87. The business’s 50-day moving average price is $14.59 and its 200-day moving average price is $16.54.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. The firm had revenue of $137.78 million for the quarter, compared to analysts’ expectations of $139.25 million. As a group, equities analysts predict that Fastly, Inc. will post -1.07 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on FSLY. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research report on Thursday, February 15th. Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $12.00 to $18.00 in a research report on Monday, January 8th. Piper Sandler upgraded Fastly from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $19.00 to $16.00 in a research report on Monday, April 8th. Citigroup raised Fastly from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $11.00 to $20.00 in a research note on Monday, January 22nd. Finally, Bank of America decreased their price target on Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.11.

Institutional Investors Weigh In On Fastly

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Fastly by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock worth $133,000 after purchasing an additional 863 shares during the period. 180 Wealth Advisors LLC purchased a new stake in Fastly in the first quarter worth $141,000. Strategic Planning Group LLC grew its stake in Fastly by 22.0% in the first quarter. Strategic Planning Group LLC now owns 68,336 shares of the company’s stock worth $886,000 after purchasing an additional 12,303 shares during the period. International Assets Investment Management LLC grew its stake in Fastly by 499.1% in the first quarter. International Assets Investment Management LLC now owns 20,578 shares of the company’s stock worth $269,000 after purchasing an additional 17,143 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Fastly in the fourth quarter worth $409,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

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.