Ronald W. Kisling Sells 7,449 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $8.84, for a total transaction of $65,849.16. Following the transaction, the chief financial officer now owns 586,057 shares of the company’s stock, valued at $5,180,743.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Fastly Price Performance

NYSE FSLY traded down $0.44 on Thursday, reaching $7.75. The company had a trading volume of 3,536,383 shares, compared to its average volume of 3,835,003. Fastly, Inc. has a fifty-two week low of $6.77 and a fifty-two week high of $25.87. The business has a 50 day moving average of $7.77 and a two-hundred day moving average of $12.76. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.83 and a current ratio of 3.83.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. The business had revenue of $133.52 million during the quarter, compared to the consensus estimate of $133.01 million. On average, sell-side analysts anticipate that Fastly, Inc. will post -1.08 earnings per share for the current year.

Institutional Trading of Fastly

A number of large investors have recently bought and sold shares of FSLY. Jennison Associates LLC acquired a new stake in Fastly during the 1st quarter worth about $13,724,000. First Trust Advisors LP grew its holdings in Fastly by 21.8% during the 4th quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after acquiring an additional 998,749 shares during the period. Vanguard Group Inc. grew its holdings in Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after acquiring an additional 657,334 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Fastly by 94.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after acquiring an additional 466,560 shares during the period. Finally, Norges Bank acquired a new stake in Fastly during the 4th quarter worth about $8,014,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSLY has been the subject of several research analyst reports. DA Davidson downgraded shares of Fastly from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd. Citigroup lowered their price target on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Royal Bank of Canada lowered their price target on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. Piper Sandler lowered their price target on shares of Fastly from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Monday. Finally, Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $18.00 to $8.00 in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.69.

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.