Fastly, Inc. (NYSE:FSLY) Given Average Rating of “Hold” by Brokerages

Fastly, Inc. (NYSE:FSLY) has received a consensus recommendation of “Hold” from the ten research firms that are currently covering the stock, Marketbeat reports. One research 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. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.55.

A number of equities research analysts have commented on the company. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Monday, December 2nd. Royal Bank of Canada decreased their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Citigroup increased their target price on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Piper Sandler reissued a “neutral” rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th.

Fastly Trading Up 3.4 %

Shares of FSLY opened at $6.83 on Tuesday. Fastly has a 12-month low of $5.52 and a 12-month high of $14.12. The firm has a market capitalization of $971.20 million, a P/E ratio of -5.99 and a beta of 1.31. The firm has a 50-day moving average price of $8.67 and a 200 day moving average price of $8.18. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (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%. Sell-side analysts forecast that Fastly will post -0.78 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Todd Nightingale sold 8,595 shares of Fastly stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total value of $59,047.65. Following the completion of the transaction, the chief executive officer now owns 1,544,706 shares in the company, valued at $10,612,130.22. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Artur Bergman sold 5,304 shares of Fastly stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.88, for a total transaction of $36,491.52. Following the sale, the chief technology officer now directly owns 3,669,058 shares of the company’s stock, valued at approximately $25,243,119.04. This trade represents a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,099 shares of company stock worth $1,627,884 in the last ninety days. 6.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Fastly by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 15,289,861 shares of the company’s stock worth $144,336,000 after acquiring an additional 103,440 shares in the last quarter. Legal & General Group Plc increased its stake in Fastly by 2.4% in the fourth quarter. Legal & General Group Plc now owns 8,025,959 shares of the company’s stock valued at $75,765,000 after purchasing an additional 189,667 shares during the last quarter. Penserra Capital Management LLC raised its holdings in 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 in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Fastly during the 4th quarter worth approximately $35,334,000. Finally, First Trust Advisors LP boosted its holdings in shares of Fastly by 4.9% in the 4th quarter. First Trust Advisors LP now owns 3,139,255 shares of the company’s stock valued at $29,635,000 after buying an additional 147,458 shares in the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

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.