Ronald W. Kisling Sells 11,269 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 11,269 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $90,602.76. Following the completion of the transaction, the chief financial officer now directly owns 508,543 shares in the company, valued at $4,088,685.72. This trade represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Fastly Stock Performance

NYSE FSLY opened at $7.28 on Friday. The stock has a market capitalization of $1.02 billion, a PE ratio of -6.38 and a beta of 1.26. The business has a 50 day simple moving average of $9.65 and a two-hundred day simple moving average of $8.13. 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, Inc. has a 1-year low of $5.52 and a 1-year high of $14.90.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share 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%. On average, research analysts predict that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Fastly

A number of institutional investors and hedge funds have recently modified their holdings of FSLY. AlphaQuest LLC boosted its holdings in shares of Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares during the period. FMR LLC boosted its holdings in shares of Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after acquiring an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Fastly during the 4th quarter worth approximately $72,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Fastly during the 4th quarter worth approximately $82,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Robert W. Baird raised their price objective on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. DA Davidson raised their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum lifted their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada decreased their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. One 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.55.

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.