Fastly, Inc. (NYSE:FSLY) Sees Significant Decline in Short Interest

Fastly, Inc. (NYSE:FSLY) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 9,310,000 shares, a decline of 7.3% from the January 15th total of 10,040,000 shares. Based on an average daily volume of 3,250,000 shares, the short-interest ratio is currently 2.9 days.

Fastly Stock Up 1.4 %

Shares of FSLY stock traded up $0.12 on Monday, reaching $8.09. 5,269,424 shares of the company were exchanged, compared to its average volume of 2,172,157. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -7.42 and a beta of 1.26. The company has a 50-day moving average of $9.93 and a 200-day moving average of $8.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly has a one year low of $5.52 and a one year high of $18.42.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Analysts anticipate that Fastly will post -0.86 earnings per share for the current year.

Insider Buying and Selling at Fastly

In other news, CFO Ronald W. Kisling sold 6,038 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $9.45, for a total transaction of $57,059.10. Following the completion of the transaction, the chief financial officer now directly owns 519,812 shares in the company, valued at approximately $4,912,223.40. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Nightingale sold 12,163 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.12, for a total transaction of $98,763.56. Following the completion of the sale, the chief executive officer now directly owns 1,588,810 shares in the company, valued at approximately $12,901,137.20. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,312 shares of company stock worth $1,770,133 over the last three months. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in Fastly by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after buying an additional 2,296 shares during the last quarter. Wealth Effects LLC increased its stake in Fastly by 86.9% in the 3rd quarter. Wealth Effects LLC now owns 23,651 shares of the company’s stock valued at $179,000 after buying an additional 11,000 shares during the last quarter. International Assets Investment Management LLC increased its stake in Fastly by 308.0% in the 3rd quarter. International Assets Investment Management LLC now owns 76,101 shares of the company’s stock valued at $5,760,000 after buying an additional 57,448 shares during the last quarter. Entropy Technologies LP increased its stake in Fastly by 118.7% in the 3rd quarter. Entropy Technologies LP now owns 39,803 shares of the company’s stock valued at $301,000 after buying an additional 21,600 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Fastly in the 3rd quarter valued at about $89,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on FSLY. Robert W. Baird boosted their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Citigroup boosted their price objective on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Monday, December 2nd. Royal Bank of Canada cut their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, Craig Hallum upped their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.55.

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.