Insider Selling: Fastly, Inc. (NYSE:FSLY) CFO Sells $75,840.00 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $6.32, for a total value of $75,840.00. Following the completion of the sale, the chief financial officer now owns 671,035 shares of the company’s stock, valued at $4,240,941.20. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Fastly Stock Down 13.2 %

Fastly stock opened at $5.16 on Friday. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $733.56 million, a PE ratio of -4.52 and a beta of 1.43. The firm’s fifty day moving average is $7.82 and its 200 day moving average is $8.23. Fastly, Inc. has a 12-month low of $5.01 and a 12-month high of $14.12.

Fastly (NYSE:FSLY) last released its quarterly earnings data 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%. As a group, sell-side analysts predict that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLY has been the topic of a number of analyst reports. Oppenheimer assumed coverage on Fastly in a research report on Thursday, March 20th. They issued a “market perform” rating on the stock. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada lowered their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Finally, Citigroup boosted their price target on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Fastly currently has a consensus rating of “Hold” and an average target price of $8.55.

Institutional Investors Weigh In On Fastly

A number of hedge funds have recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC grew its position in Fastly by 2.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after purchasing an additional 1,695 shares during the period. AlphaQuest LLC grew its holdings in shares of Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after buying an additional 2,960 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock worth $1,814,000 after acquiring an additional 3,081 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after acquiring an additional 3,221 shares during the last quarter. Finally, Mariner LLC lifted its position in Fastly by 18.0% in the 4th quarter. Mariner LLC now owns 22,868 shares of the company’s stock valued at $216,000 after acquiring an additional 3,487 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.