Fastly (NYSE:FSLY) Now Covered by Oppenheimer

Oppenheimer began coverage on shares of Fastly (NYSE:FSLY) in a research note published on Thursday morning. The firm issued a market perform rating on the stock.

Several other equities research analysts have also commented on FSLY. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Royal Bank of Canada dropped their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, Citigroup raised their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to data from MarketBeat, Fastly presently has a consensus rating of “Hold” and an average target price of $8.55.

Fastly Trading Down 1.6 %

Shares of NYSE:FSLY opened at $7.00 on Thursday. The firm has a market capitalization of $995.39 million, a price-to-earnings ratio of -6.14 and a beta of 1.31. The business’s 50 day moving average price is $8.47 and its 200-day moving average price is $8.19. 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 1 year low of $5.52 and a 1 year high of $14.12.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. On average, equities research analysts forecast that Fastly will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $10.09, for a total transaction of $100,900.00. Following the sale, the chief technology officer now owns 3,434,136 shares of the company’s stock, valued at approximately $34,650,432.24. The trade was a 0.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Nightingale sold 35,509 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total value of $285,492.36. Following the completion of the transaction, the chief executive officer now owns 1,553,301 shares in the company, valued at $12,488,540.04. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 173,699 shares of company stock valued at $1,587,050 in the last three months. 6.70% of the stock is currently owned by insiders.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. purchased a new position in Fastly during the fourth quarter worth about $35,334,000. Bank of Montreal Can lifted its holdings in shares of Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after acquiring an additional 1,293,490 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Fastly during the 4th quarter worth approximately $7,618,000. Penserra Capital Management LLC increased its holdings in Fastly by 18.8% in the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after purchasing an additional 801,968 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Fastly in the fourth quarter valued at approximately $7,088,000. 79.71% of the stock is owned by institutional investors and hedge funds.

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.