Fastly, Inc. (NYSE:FSLY) CEO Sells $59,047.65 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 8,595 shares of Fastly stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $6.87, for a total value of $59,047.65. Following the transaction, the chief executive officer now directly owns 1,544,706 shares of the company’s stock, valued at approximately $10,612,130.22. This represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Todd Nightingale also recently made the following trade(s):

• On Wednesday, February 19th, Todd Nightingale sold 35,509 shares of Fastly stock. The stock was sold at an average price of $8.04, for a total value of $285,492.36.

Fastly Stock Performance

Fastly stock opened at $6.79 on Friday. The firm has a market capitalization of $951.94 million, a P/E ratio of -5.95 and a beta of 1.26. The stock has a fifty day moving average price of $9.27 and a 200 day moving average price of $8.15. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $14.76. 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 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 research analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current year.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Fastly by 17.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,124 shares of the company’s stock valued at $2,484,000 after acquiring an additional 39,782 shares during the period. Voloridge Investment Management LLC grew its position in Fastly by 1.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,104,497 shares of the company’s stock valued at $19,866,000 after acquiring an additional 33,885 shares during the period. Vident Advisory LLC grew its position in Fastly by 190.2% during the fourth quarter. Vident Advisory LLC now owns 32,878 shares of the company’s stock valued at $310,000 after acquiring an additional 21,549 shares during the period. Two Sigma Advisers LP grew its position in Fastly by 226.2% during the fourth quarter. Two Sigma Advisers LP now owns 418,500 shares of the company’s stock valued at $3,951,000 after acquiring an additional 290,200 shares during the period. Finally, Two Sigma Investments LP grew its position in Fastly by 179.3% during the fourth quarter. Two Sigma Investments LP now owns 1,101,329 shares of the company’s stock valued at $10,397,000 after acquiring an additional 707,053 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FSLY shares. Citigroup boosted their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Piper Sandler reissued a “neutral” rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada cut their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Robert W. Baird boosted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, DA Davidson boosted their price target on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.55.

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.