Insider Selling: Fastly, Inc. (NYSE:FSLY) CFO Sells 12,500 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,500 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $125,000.00. Following the transaction, the chief financial officer now owns 525,850 shares in the company, valued at $5,258,500. The trade was a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Fastly Trading Down 2.8 %

Shares of NYSE:FSLY opened at $9.45 on Thursday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.33 billion, a PE ratio of -8.67 and a beta of 1.24. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87. The business’s fifty day simple moving average is $8.92 and its 200-day simple moving average is $7.70.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. The business had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) earnings per share. As a group, equities research analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fastly

Several institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its holdings in shares of Fastly by 59.4% during the second quarter. Commonwealth Equity Services LLC now owns 48,987 shares of the company’s stock valued at $361,000 after acquiring an additional 18,258 shares in the last quarter. Rhumbline Advisers grew its position in Fastly by 8.5% during the 2nd quarter. Rhumbline Advisers now owns 189,832 shares of the company’s stock worth $1,399,000 after purchasing an additional 14,813 shares during the last quarter. Arizona State Retirement System increased its stake in Fastly by 10.3% during the 2nd quarter. Arizona State Retirement System now owns 35,690 shares of the company’s stock valued at $263,000 after purchasing an additional 3,338 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Fastly by 95.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after buying an additional 4,318 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of Fastly during the second quarter valued at $586,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several recent analyst reports. DA Davidson increased their price target on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, December 2nd. Piper Sandler lifted their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, Craig Hallum raised their price objective on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.85.

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.