Insider Selling: Fastly, Inc. (NYSE:FSLY) CEO Sells 12,163 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 12,163 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.12, for a total transaction of $98,763.56. Following the sale, the chief executive officer now owns 1,588,810 shares of the company’s stock, valued at $12,901,137.20. This represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Todd Nightingale also recently made the following trade(s):

• On Monday, November 18th, Todd Nightingale sold 49,816 shares of Fastly stock. The stock was sold at an average price of $6.25, for a total transaction of $311,350.00.

Fastly Stock Down 0.4 %

Shares of FSLY stock opened at $7.92 on Friday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $7.36 and its two-hundred day moving average is $7.28. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87.

Fastly (NYSE:FSLY) last posted its quarterly earnings data 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 firm had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. Fastly’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted ($0.33) EPS. Sell-side analysts expect that Fastly, Inc. will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Fastly by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock worth $22,831,000 after acquiring an additional 46,951 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Fastly in the 3rd quarter valued at about $183,000. XTX Topco Ltd acquired a new stake in shares of Fastly in the third quarter valued at about $400,000. Zacks Investment Management acquired a new stake in shares of Fastly in the third quarter valued at about $914,000. Finally, Quadrature Capital Ltd boosted its holdings in Fastly by 84.2% during the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after buying an additional 51,224 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. DA Davidson upped their price objective on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum upped their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their price target on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Robert W. Baird boosted their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley lowered their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.94.

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.