Fastly (NYSE:FSLY) Now Covered by Oppenheimer

Oppenheimer began coverage on shares of Fastly (NYSE:FSLY) in a report issued on Thursday. The brokerage set a “market perform” rating on the stock.

A number of other equities research analysts also recently issued reports on FSLY. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price objective (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Citigroup upped their price objective on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada reduced their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.55.

Fastly Stock Down 1.8 %

Shares of NYSE FSLY traded down $0.13 during mid-day trading on Thursday, reaching $6.99. 335,943 shares of the company’s stock traded hands, compared to its average volume of 3,127,807. The stock has a market cap of $993.97 million, a P/E ratio of -6.12 and a beta of 1.31. The business has a 50-day simple moving average of $8.52 and a 200 day simple moving average of $8.20. Fastly has a 1-year low of $5.52 and a 1-year high of $14.12. 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 (NYSE:FSLY) last issued its quarterly earnings data 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 net margin of 29.07% and a negative return on equity of 12.75%. On average, analysts expect that Fastly will post -0.78 EPS for the current fiscal year.

Insider Activity

In related news, CEO Todd Nightingale sold 35,509 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $10.58, for a total transaction of $105,800.00. Following the sale, the chief technology officer now owns 3,364,136 shares in the company, valued at $35,592,558.88. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 173,699 shares of company stock valued at $1,587,050 in the last three months. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Several institutional investors and hedge funds have recently bought and sold shares of FSLY. Alyeska Investment Group L.P. purchased a new stake in Fastly in the 4th quarter worth approximately $35,334,000. Bank of Montreal Can lifted its stake in Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after purchasing an additional 1,293,490 shares in the last quarter. Marshall Wace LLP purchased a new stake in Fastly in the 4th quarter worth approximately $7,618,000. Penserra Capital Management LLC lifted its stake in Fastly by 18.8% in the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Fastly during the 4th quarter valued at $7,088,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

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.