Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 2,063 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 2,063 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $6.87, for a total value of $14,172.81. Following the completion of the transaction, the chief financial officer now owns 506,480 shares of the company’s stock, valued at $3,479,517.60. This represents a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fastly Stock Down 3.5 %

Shares of NYSE FSLY opened at $6.74 on Friday. The stock has a market capitalization of $944.92 million, a PE ratio of -5.91 and a beta of 1.26. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $9.34 and its two-hundred day simple moving average is $8.13. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $14.76.

Fastly (NYSE:FSLY) last posted its quarterly 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%. As a group, analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FSLY. DA Davidson boosted their price objective on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, December 2nd. Citigroup lifted their price target on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Craig Hallum raised their price objective on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Fastly currently has an average rating of “Hold” and a consensus price target of $8.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Alyeska Investment Group L.P. purchased a new position in shares of Fastly during the 4th quarter valued at about $35,334,000. Bank of Montreal Can raised its position in Fastly by 11,140.2% during the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after acquiring an additional 1,293,490 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Fastly during the 4th quarter worth approximately $7,618,000. Penserra Capital Management LLC increased its holdings in shares of Fastly by 18.8% during the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $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 Fastly during the fourth quarter worth $7,088,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.