Fastly (NYSE:FSLY) Shares Gap Down – Time to Sell?

Shares of Fastly, Inc. (NYSE:FSLY) gapped down before the market opened on Monday . The stock had previously closed at $6.41, but opened at $6.28. Fastly shares last traded at $6.30, with a volume of 952,358 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Royal Bank of Canada raised their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Craig Hallum lifted their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Piper Sandler lifted their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird boosted 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. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.94.

Fastly Stock Down 3.4 %

The company has a market cap of $909.14 million, a PE ratio of -6.16 and a beta of 1.24. The stock has a 50-day moving average of $7.23 and a 200-day moving average of $7.30. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. The company had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Fastly’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. Sell-side analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fastly news, CTO Artur Bergman sold 19,889 shares of Fastly stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total transaction of $118,538.44. Following the transaction, the chief technology officer now directly owns 6,205,000 shares of the company’s stock, valued at approximately $36,981,800. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 12,163 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $6.25, for a total transaction of $76,018.75. Following the completion of the sale, the chief executive officer now directly owns 1,650,789 shares of the company’s stock, valued at $10,317,431.25. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,790 shares of company stock worth $670,655. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of Fastly during the second quarter valued at approximately $38,000. Cambridge Trust Co. bought a new stake in Fastly in the first quarter valued at $39,000. FMR LLC increased its position in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares during the period. Cape Investment Advisory Inc. raised 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 worth $54,000 after purchasing an additional 4,150 shares in the last quarter. Finally, EMC Capital Management lifted its position in shares of Fastly by 400.0% in 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. 79.71% of the stock is currently 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.