Fastly, Inc. (NYSE:FSLY) Sees Large Growth in Short Interest

Fastly, Inc. (NYSE:FSLY) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 10,190,000 shares, a growth of 14.1% from the March 15th total of 8,930,000 shares. Based on an average trading volume of 4,100,000 shares, the short-interest ratio is currently 2.5 days.

Insider Activity

In other news, CFO Ronald W. Kisling sold 12,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $12.92, for a total transaction of $155,040.00. Following the completion of the transaction, the chief financial officer now owns 640,222 shares of the company’s stock, valued at $8,271,668.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Artur Bergman sold 74,375 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $20.25, for a total transaction of $1,506,093.75. Following the completion of the sale, the insider now directly owns 6,101,869 shares in the company, valued at $123,562,847.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $12.92, for a total transaction of $155,040.00. Following the sale, the chief financial officer now owns 640,222 shares of the company’s stock, valued at $8,271,668.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,695 shares of company stock valued at $5,127,995. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Qube Research & Technologies Ltd lifted its position in shares of Fastly by 77.7% during the third quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock valued at $14,902,000 after purchasing an additional 339,820 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in Fastly in the third quarter worth about $1,942,000. Vanguard Group Inc. raised its position in Fastly by 3.1% in the third quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock worth $244,075,000 after acquiring an additional 381,845 shares during the period. Los Angeles Capital Management LLC bought a new stake in Fastly in the third quarter worth about $477,000. Finally, Moody Aldrich Partners LLC bought a new stake in Fastly in the fourth quarter worth about $2,155,000. 79.71% of the stock is owned by institutional investors.

Fastly Stock Down 3.8 %

Shares of NYSE FSLY traded down $0.50 during mid-day trading on Tuesday, reaching $12.63. 2,944,190 shares of the company’s stock traded hands, compared to its average volume of 3,968,576. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. The business has a 50-day simple moving average of $14.78 and a 200 day simple moving average of $16.57. Fastly has a 1-year low of $11.61 and a 1-year high of $25.87. The stock has a market cap of $1.69 billion, a P/E ratio of -12.14 and a beta of 1.22.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. The company had revenue of $137.78 million for the quarter, compared to analyst estimates of $139.25 million. On average, analysts expect that Fastly will post -1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.