Stock Traders Buy Large Volume of Call Options on Fastly (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the recipient of unusually large options trading activity on Monday. Stock traders bought 22,782 call options on the stock. This is an increase of 239% compared to the typical volume of 6,711 call options.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 16,922 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $105,762.50. Following the completion of the sale, the chief technology officer now owns 6,138,900 shares of the company’s stock, valued at approximately $38,368,125. The trade was a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Nightingale sold 12,163 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.12, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 154,550 shares of company stock valued at $1,091,021. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in Fastly during the second quarter worth about $38,000. FMR LLC raised its position in shares of Fastly by 124.2% during the 3rd 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. EMC Capital Management raised its position in shares of Fastly by 400.0% during the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after purchasing an additional 6,000 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Fastly by 95.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after purchasing an additional 4,318 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Fastly during the 3rd quarter valued at approximately $89,000. 79.71% of the stock is currently owned by institutional investors.

Fastly Stock Performance

Shares of FSLY stock opened at $9.87 on Tuesday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -9.06 and a beta of 1.24. Fastly has a one year low of $5.52 and a one year high of $25.87. The company’s 50-day simple moving average is $7.39 and its 200-day simple moving average is $7.25. 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 released its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Fastly’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.33) EPS. Equities analysts anticipate that Fastly will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FSLY. Piper Sandler boosted their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Monday. Robert W. Baird boosted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley dropped their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Finally, Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.35.

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.