Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale Sells 8,595 Shares

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 8,595 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total transaction of $59,047.65. Following the transaction, the chief executive officer now directly owns 1,544,706 shares in the company, valued at $10,612,130.22. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, February 19th, Todd Nightingale sold 35,509 shares of Fastly stock. The shares were sold at an average price of $8.04, for a total transaction of $285,492.36.

Fastly Price Performance

Shares of NYSE FSLY opened at $6.74 on Friday. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $14.76. The company has a market cap of $944.92 million, a PE ratio of -5.91 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The business has a 50-day simple moving average of $9.34 and a two-hundred day simple moving average of $8.13.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, February 12th. The company reported ($0.21) EPS 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%. As a group, equities analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Fastly

A number of large investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new position in Fastly in the 4th quarter worth $35,334,000. Bank of Montreal Can raised its stake in shares of Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after purchasing an additional 1,293,490 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Fastly in the fourth quarter worth about $7,618,000. Penserra Capital Management LLC lifted its holdings in shares of Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Fastly in the fourth quarter valued at approximately $7,088,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FSLY has been the subject of a number of recent research reports. DA Davidson boosted their price objective on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Monday, December 2nd. Citigroup raised their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Finally, Royal Bank of Canada decreased their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.55.

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.