Ronald W. Kisling Sells 12,000 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $6.32, for a total value of $75,840.00. Following the completion of the sale, the chief financial officer now directly owns 671,035 shares of the company’s stock, valued at approximately $4,240,941.20. The trade was a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Fastly Stock Performance

FSLY opened at $6.62 on Thursday. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $14.12. The firm has a market capitalization of $942.03 million, a P/E ratio of -5.81 and a beta of 1.31. The stock’s 50 day moving average price is $8.01 and its two-hundred day moving average price is $8.26. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

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

Analysts Set New Price Targets

FSLY has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of Fastly in a research note on Thursday, March 20th. They set a “market perform” rating on the stock. Piper Sandler restated a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada decreased their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Finally, Citigroup raised their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, Fastly presently has an average rating of “Hold” and an average target price of $8.55.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently added to or reduced their stakes in FSLY. AlphaQuest LLC raised its holdings in Fastly by 169.1% in 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 in the last quarter. Jones Financial Companies Lllp increased its position in shares of Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after purchasing an additional 3,221 shares during the period. FMR LLC raised its stake in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Fastly in the fourth quarter worth $72,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Fastly during the fourth quarter worth $82,000. 79.71% of the stock is owned by institutional investors and hedge funds.

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.