Insider Selling: Fastly, Inc. (NYSE:FSLY) CEO Sells $98,763.56 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 12,163 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.12, for a total value of $98,763.56. Following the completion of the transaction, the chief executive officer now owns 1,588,810 shares in the company, valued at $12,901,137.20. This represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Todd Nightingale also recently made the following trade(s):

• On Monday, November 18th, Todd Nightingale sold 49,816 shares of Fastly stock. The shares were sold at an average price of $6.25, for a total value of $311,350.00.

Fastly Stock Performance

Shares of Fastly stock opened at $8.51 on Friday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $7.39 and its 200 day simple moving average is $7.28. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $25.87. The firm has a market capitalization of $1.19 billion, a P/E ratio of -7.81 and a beta of 1.24.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. During the same period last year, the business posted ($0.33) earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts anticipate that Fastly, Inc. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on FSLY shares. Craig Hallum raised their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Morgan Stanley dropped their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Robert W. Baird lifted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price target on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.94.

Institutional Trading of Fastly

A number of large investors have recently bought and sold shares of FSLY. Bank of Montreal Can increased its position in Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after buying an additional 1,293,490 shares during the last quarter. Penserra Capital Management LLC increased its position in Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after buying an additional 801,968 shares during the last quarter. Vanguard Group Inc. increased its position in Fastly by 5.1% in the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after buying an additional 657,334 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock valued at $5,575,000 after purchasing an additional 621,680 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Fastly in the second quarter valued at $1,233,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

About Fastly

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.