Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 12,500 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,500 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $125,000.00. Following the completion of the sale, the chief financial officer now owns 525,850 shares in the company, valued at $5,258,500. This represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Fastly Price Performance

Shares of NYSE:FSLY traded down $0.27 during trading on Wednesday, reaching $9.45. The stock had a trading volume of 2,749,173 shares, compared to its average volume of 2,437,311. The stock has a market capitalization of $1.33 billion, a PE ratio of -8.67 and a beta of 1.27. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87. The business’s 50-day moving average price is $8.88 and its 200 day moving average price is $7.68. 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 (NYSE:FSLY) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted ($0.33) earnings per share. As a group, equities analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current year.

Hedge Funds Weigh In On Fastly

A number of institutional investors have recently modified their holdings of FSLY. Point72 DIFC Ltd acquired a new stake in Fastly in the second quarter worth about $38,000. FMR LLC grew its position in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after buying an additional 4,318 shares during the period. Aigen Investment Management LP bought a new stake in shares of Fastly during the third quarter worth approximately $89,000. Finally, Lombard Odier Asset Management USA Corp acquired a new position in Fastly in the second quarter valued at approximately $114,000. 79.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FSLY. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Monday, December 2nd. Piper Sandler boosted their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Robert W. Baird increased their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson lifted their target price on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastly has an average rating of “Hold” and an average target price of $8.85.

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.