Fastly, Inc. (NYSE:FSLY) CFO Sells $90,602.76 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 11,269 shares of Fastly stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $90,602.76. Following the completion of the transaction, the chief financial officer now directly owns 508,543 shares in the company, valued at approximately $4,088,685.72. This represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Fastly Price Performance

Fastly stock opened at $7.28 on Monday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.38 and a beta of 1.26. Fastly, Inc. has a 52-week low of $5.52 and a 52-week high of $14.90. The stock’s 50 day moving average price is $9.65 and its two-hundred day moving average price is $8.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. On average, equities analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on FSLY. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price objective (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Robert W. Baird lifted their price objective on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum lifted their price objective on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Citigroup lifted their price objective on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, DA Davidson boosted their price target on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.55.

Hedge Funds Weigh In On Fastly

Institutional investors have recently modified their holdings of the company. AlphaQuest LLC raised its position in shares of Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares during the period. Jones Financial Companies Lllp raised its position in shares of Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after purchasing an additional 3,221 shares during the period. FMR LLC raised its position in shares of Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares during the period. Wealthfront Advisers LLC purchased a new stake in Fastly in the 4th quarter valued at $72,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Fastly in the 4th quarter valued at $82,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Fastly Company Profile

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.