Fastly (NYSE:FSLY) Now Covered by Oppenheimer

Investment analysts at Oppenheimer started coverage on shares of Fastly (NYSE:FSLY) in a research report issued to clients and investors on Thursday. The firm set a “market perform” rating on the stock.

Several other research firms have also commented on FSLY. Royal Bank of Canada reduced their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating and issued a $9.00 price target (down previously from $10.00) on shares of Fastly in a report on Thursday, February 13th. Finally, Citigroup raised their price target on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.55.

Fastly Trading Down 1.8 %

Shares of FSLY stock traded down $0.13 on Thursday, hitting $6.99. 335,943 shares of the company’s stock traded hands, compared to its average volume of 3,127,807. 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 has a one year low of $5.52 and a one year high of $14.12. The company’s fifty day simple moving average is $8.52 and its 200 day simple moving average is $8.20. The stock has a market capitalization of $993.97 million, a price-to-earnings ratio of -6.12 and a beta of 1.31.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Equities analysts forecast that Fastly will post -0.78 EPS for the current year.

Insider Activity

In other news, CEO Todd Nightingale sold 35,509 shares of Fastly stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $285,492.36. Following the sale, the chief executive officer now owns 1,553,301 shares of the company’s stock, valued at approximately $12,488,540.04. The trade was a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.09, for a total transaction of $100,900.00. Following the sale, the chief technology officer now directly owns 3,434,136 shares in the company, valued at $34,650,432.24. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,699 shares of company stock valued at $1,587,050. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

A number of large investors have recently modified their holdings of FSLY. AlphaQuest LLC lifted its position in Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after acquiring an additional 2,960 shares during the period. FMR LLC lifted its position in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares during the period. Jones Financial Companies Lllp lifted its position in Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after acquiring an additional 3,221 shares during the period. Wealthfront Advisers LLC purchased a new position in Fastly during the 4th quarter valued at about $72,000. Finally, Canada Pension Plan Investment Board purchased a new position in Fastly during the 4th quarter valued at about $82,000. Institutional investors own 79.71% of the company’s stock.

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.