Fastly (NYSE:FSLY) Trading Up 5.8%

Fastly, Inc. (NYSE:FSLY) shot up 5.8% during mid-day trading on Monday . The stock traded as high as $6.02 and last traded at $6.00. 2,674,586 shares were traded during mid-day trading, a decline of 30% from the average session volume of 3,821,419 shares. The stock had previously closed at $5.67.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup lowered their price target on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Craig Hallum cut their price target on shares of Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday. DA Davidson downgraded Fastly from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd. Piper Sandler downgraded shares of Fastly from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $6.00 in a report on Thursday. Finally, Royal Bank of Canada decreased their price objective 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.93.

Fastly Trading Up 7.1 %

The stock has a market capitalization of $829.39 million, a PE ratio of -6.06 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.83 and a current ratio of 3.83. The company has a 50 day moving average of $7.41 and a two-hundred day moving average of $11.46.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The business had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. During the same quarter last year, the company posted ($0.32) earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts predict that Fastly, Inc. will post -1.08 EPS for the current year.

Insider Activity at Fastly

In other news, CFO Ronald W. Kisling sold 2,919 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $8.92, for a total value of $26,037.48. Following the sale, the chief financial officer now owns 606,712 shares in the company, valued at $5,411,871.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Ronald W. Kisling sold 2,919 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $8.92, for a total transaction of $26,037.48. Following the sale, the chief financial officer now owns 606,712 shares in the company, valued at $5,411,871.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $8.84, for a total value of $65,849.16. Following the completion of the sale, the chief financial officer now owns 586,057 shares of the company’s stock, valued at $5,180,743.88. The disclosure for this sale can be found here. Insiders sold 135,217 shares of company stock worth $1,176,853 over the last three months. Company insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Several institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in Fastly by 1,420.9% during the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after buying an additional 1,975 shares during the last quarter. Cambridge Trust Co. acquired a new stake in Fastly in the first quarter valued at about $39,000. Cape Investment Advisory Inc. boosted its holdings in Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after purchasing an additional 4,150 shares in the last quarter. EMC Capital Management increased its position in Fastly by 400.0% during the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after purchasing an additional 6,000 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Fastly during the 4th quarter worth approximately $61,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.