Fastly, Inc. (NYSE:FSLY) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fastly, Inc. (NYSE:FSLY) have been given an average recommendation of “Hold” by the eleven ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $22.6250.

A number of research analysts recently weighed in on the company. Piper Sandler reduced their price objective on Fastly to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. DA Davidson set a $13.00 target price on Fastly in a research note on Thursday, February 12th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Evercore assumed coverage on Fastly in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target for the company. Finally, Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a research note on Tuesday, April 14th.

Insider Activity

In related news, CEO Charles Lacey Compton III sold 7,059 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $24.57, for a total transaction of $173,439.63. Following the sale, the chief executive officer directly owned 1,133,895 shares of the company’s stock, valued at $27,859,800.15. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Artur Bergman sold 265,000 shares of Fastly stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $22.79, for a total transaction of $6,039,350.00. Following the completion of the sale, the chief technology officer owned 1,604,901 shares of the company’s stock, valued at $36,575,693.79. This represents a 14.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,133,578 shares of company stock worth $23,937,086 over the last 90 days. 6.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fastly

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amundi grew its holdings in shares of Fastly by 11.3% in the first quarter. Amundi now owns 46,624 shares of the company’s stock worth $277,000 after acquiring an additional 4,724 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Fastly during the 1st quarter valued at about $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Fastly by 1.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock worth $2,950,000 after purchasing an additional 6,247 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Fastly by 963.6% in the first quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock worth $385,000 after buying an additional 55,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Fastly by 7.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after buying an additional 165,937 shares during the period. 79.71% of the stock is owned by institutional investors.

Fastly Price Performance

Shares of NYSE FSLY opened at $17.00 on Friday. The company has a 50 day simple moving average of $25.40 and a two-hundred day simple moving average of $16.30. Fastly has a fifty-two week low of $6.29 and a fifty-two week high of $34.82. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -17.71 and a beta of 0.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.