Fastly, Inc. (NYSE:FSLY) has been assigned an average recommendation of “Hold” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $79.27.
FSLY has been the topic of several research reports. BidaskClub lowered shares of Fastly from a “hold” rating to a “sell” rating in a report on Thursday, January 7th. Credit Suisse Group cut shares of Fastly from an “outperform” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research note on Wednesday, November 25th. Pritchard Capital dropped their price target on Fastly from $58.00 to $47.00 and set a “sell” rating for the company in a research note on Thursday, October 29th. DA Davidson cut their price objective on Fastly from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, October 15th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “sell” rating and set a $58.00 price objective on shares of Fastly in a research report on Friday, October 16th.
Shares of FSLY stock traded up $0.97 during trading hours on Wednesday, reaching $90.59. The company’s stock had a trading volume of 2,638,350 shares, compared to its average volume of 3,633,684. Fastly has a fifty-two week low of $10.63 and a fifty-two week high of $136.50. The firm’s 50 day simple moving average is $90.90 and its 200-day simple moving average is $86.96. The company has a quick ratio of 7.97, a current ratio of 7.97 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of -141.55 and a beta of 1.38.
In other news, CEO Joshua Bixby sold 10,000 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $85.39, for a total transaction of $853,900.00. Following the completion of the sale, the chief executive officer now directly owns 313,379 shares in the company, valued at $26,759,432.81. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Paul Luongo sold 2,083 shares of Fastly stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $75.63, for a total transaction of $157,537.29. Following the transaction, the general counsel now directly owns 267,923 shares of the company’s stock, valued at approximately $20,263,016.49. The disclosure for this sale can be found here. Insiders have sold 423,065 shares of company stock valued at $31,735,529 over the last 90 days. 24.33% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of FSLY. State of Wisconsin Investment Board acquired a new stake in shares of Fastly during the 2nd quarter worth approximately $816,000. Bank of New York Mellon Corp grew its holdings in Fastly by 585.5% in the second quarter. Bank of New York Mellon Corp now owns 465,477 shares of the company’s stock worth $39,626,000 after purchasing an additional 397,571 shares during the period. American International Group Inc. bought a new stake in Fastly in the second quarter valued at $170,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Fastly in the second quarter valued at $148,000. Finally, Federated Hermes Inc. acquired a new position in shares of Fastly during the second quarter valued at about $1,634,000. 52.92% of the stock is owned by hedge funds and other institutional investors.
Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications. 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. It is a programmable platform designed for Web and application delivery.
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