Fastly (NYSE:FSLY) Stock Price Down 4.5% – Time to Sell?

Fastly, Inc. (NYSE:FSLY) shares were down 4.5% during trading on Thursday . The stock traded as low as $9.93 and last traded at $10.05. Approximately 977,020 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,591,485 shares. The stock had previously closed at $10.52.

Analyst Ratings Changes

Several equities analysts recently issued reports on FSLY shares. Craig Hallum raised their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price target on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research report on Monday, December 2nd. Morgan Stanley decreased their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Finally, Robert W. Baird boosted their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.55.

Fastly Price Performance

The stock has a market capitalization of $1.41 billion, a P/E ratio of -9.25 and a beta of 1.27. The firm has a fifty day moving average price of $8.29 and a two-hundred day moving average price of $7.48. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The firm had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $131.86 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts expect that Fastly, Inc. will post -0.86 EPS for the current year.

Insider Activity at Fastly

In other news, CEO Todd Nightingale sold 49,816 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $311,350.00. Following the transaction, the chief executive officer now directly owns 1,600,973 shares of the company’s stock, valued at $10,006,081.25. This represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ronald W. Kisling sold 7,449 shares of Fastly stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the completion of the sale, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at $4,044,003.36. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,641 shares of company stock valued at $1,740,518 over the last ninety days. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC raised its stake in shares of 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 period. Geode Capital Management LLC lifted its holdings in Fastly by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock valued at $22,831,000 after purchasing an additional 46,951 shares in the last quarter. Bank of Montreal Can lifted its holdings in Fastly by 11,140.2% during the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Fastly by 18.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after purchasing an additional 161,070 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Fastly by 461.5% during the 2nd 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 during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.