Fastly, Inc. (NYSE:FSLY) Short Interest Update

Fastly, Inc. (NYSE:FSLYGet Free Report) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 8,930,000 shares, an increase of 7.2% from the February 29th total of 8,330,000 shares. Based on an average daily volume of 3,950,000 shares, the short-interest ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a report on Thursday, February 15th. Bank of America cut their target price on shares of Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Citigroup upgraded shares of Fastly from a “sell” rating to a “neutral” rating and upped their target price for the company from $11.00 to $20.00 in a research note on Monday, January 22nd. Finally, Royal Bank of Canada upgraded shares of Fastly from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $12.00 to $18.00 in a research note on Monday, January 8th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.50.

View Our Latest Stock Report on FSLY

Fastly Stock Performance

Shares of Fastly stock opened at $12.70 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14. Fastly has a 1 year low of $11.61 and a 1 year high of $25.87. The firm’s 50-day simple moving average is $16.35 and its 200-day simple moving average is $16.96. The firm has a market cap of $1.70 billion, a PE ratio of -12.21 and a beta of 1.22.

Fastly (NYSE:FSLYGet Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. The business had revenue of $137.78 million during the quarter, compared to the consensus estimate of $139.25 million. Equities analysts forecast that Fastly will post -1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Artur Bergman sold 17,500 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $17.51, for a total transaction of $306,425.00. Following the completion of the sale, the insider now directly owns 6,176,244 shares of the company’s stock, valued at approximately $108,146,032.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fastly news, Director Richard Devon Daniels sold 7,766 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $12.66, for a total value of $98,317.56. Following the transaction, the director now owns 34,328 shares in the company, valued at approximately $434,592.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Artur Bergman sold 17,500 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $17.51, for a total transaction of $306,425.00. Following the completion of the transaction, the insider now owns 6,176,244 shares in the company, valued at approximately $108,146,032.44. The disclosure for this sale can be found here. In the last three months, insiders sold 328,695 shares of company stock valued at $5,746,270. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently modified their holdings of the business. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Fastly during the 4th quarter valued at about $409,000. Vanguard Group Inc. grew its position in shares of Fastly by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,924,190 shares of the company’s stock valued at $230,051,000 after buying an additional 192,076 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Fastly during the 4th quarter valued at about $2,933,000. Goldman Sachs Group Inc. grew its position in Fastly by 9.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after purchasing an additional 162,659 shares during the last quarter. Finally, American International Group Inc. grew its position in Fastly by 1.5% in the 4th quarter. American International Group Inc. now owns 60,081 shares of the company’s stock worth $1,069,000 after purchasing an additional 873 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

Fastly Company Profile

(Get Free Report)

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.

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