Fastly, Inc. (NYSE:FSLY) CFO Sells $125,000.00 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,500 shares of Fastly stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $125,000.00. Following the completion of the transaction, the chief financial officer now directly owns 525,850 shares in the company, valued at $5,258,500. This represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Fastly Trading Down 4.2 %

NYSE FSLY opened at $9.02 on Friday. The company has a market capitalization of $1.27 billion, a PE ratio of -8.28 and a beta of 1.24. The company has a fifty day moving average of $9.00 and a 200 day moving average of $7.72. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Craig Hallum lifted their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Royal Bank of Canada lifted their price target on shares of Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Monday, December 2nd. Finally, Piper Sandler boosted their price objective on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Point72 DIFC Ltd acquired a new position in shares of Fastly in the second quarter worth about $38,000. FMR LLC raised its position in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares during the period. Daiwa Securities Group Inc. raised its position 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 acquiring an additional 4,318 shares during the period. Aigen Investment Management LP acquired a new position in shares of Fastly in the third quarter worth about $89,000. Finally, Lombard Odier Asset Management USA Corp acquired a new position in shares of Fastly in the second quarter worth about $114,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.