Fastly Sees Unusually Large Options Volume (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) saw some unusual options trading activity on Wednesday. Investors purchased 29,107 call options on the company. This is an increase of approximately 125% compared to the typical volume of 12,949 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FSLY shares. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research report on Thursday, February 15th. Bank of America dropped their target price on shares of Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $19.00 to $16.00 in a research note on Monday, April 8th. Citigroup decreased their price target on shares of Fastly from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada upgraded shares of Fastly from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $12.00 to $18.00 in a research note on Monday, January 8th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.56.

Insider Activity

In other Fastly news, insider Artur Bergman sold 3,327 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $13.93, for a total transaction of $46,345.11. Following the completion of the sale, the insider now owns 6,040,043 shares of the company’s stock, valued at approximately $84,137,798.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fastly news, insider Artur Bergman sold 3,327 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $13.93, for a total transaction of $46,345.11. Following the completion of the sale, the insider now owns 6,040,043 shares of the company’s stock, valued at approximately $84,137,798.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Nightingale sold 50,708 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.09, for a total transaction of $815,891.72. Following the sale, the chief executive officer now directly owns 1,371,348 shares of the company’s stock, valued at approximately $22,064,989.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,076 shares of company stock valued at $3,620,434. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Fastly

A number of institutional investors and hedge funds have recently bought and sold shares of FSLY. Hanseatic Management Services Inc. bought a new stake in Fastly during the 3rd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Fastly in the third quarter worth approximately $36,000. Allworth Financial LP grew its stake in shares of Fastly by 1,420.9% in the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after acquiring an additional 1,975 shares during the period. Hollencrest Capital Management bought a new stake in shares of Fastly in the third quarter worth approximately $58,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Fastly in the fourth quarter worth approximately $61,000. 79.71% of the stock is currently owned by institutional investors.

Fastly Stock Down 3.4 %

NYSE:FSLY opened at $12.40 on Friday. The firm has a market cap of $1.66 billion, a P/E ratio of -11.92 and a beta of 1.22. 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 fifty-two week low of $11.61 and a fifty-two week high of $25.87. The firm has a 50-day simple moving average of $13.39 and a two-hundred day simple moving average of $16.35.

Fastly (NYSE:FSLY) last released 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. The business had revenue of $137.78 million during the quarter, compared to analyst estimates of $139.25 million. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. Analysts predict that Fastly will post -1.07 earnings per share for the current fiscal year.

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.