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

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $6.32, for a total transaction of $75,840.00. Following the completion of the transaction, the chief financial officer now owns 671,035 shares of the company’s stock, valued at $4,240,941.20. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fastly Price Performance

FSLY stock opened at $6.62 on Thursday. Fastly, Inc. has a one year low of $5.52 and a one year high of $14.12. The firm has a 50-day moving average of $8.01 and a two-hundred day moving average of $8.26. The firm has a market capitalization of $942.03 million, a PE ratio of -5.81 and a beta of 1.31. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last issued its quarterly 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%. On average, analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FSLY. AlphaQuest LLC boosted its position in Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after acquiring an additional 2,960 shares during the period. FMR LLC boosted its holdings in shares of Fastly by 124.2% during the third 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 grew its position in 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 in the last quarter. Wealthfront Advisers LLC acquired a new position in Fastly in the 4th quarter valued at approximately $72,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Fastly in the 4th quarter worth approximately $82,000. Hedge funds and other 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.