Insider Selling: Fastly, Inc. (NYSE:FSLY) CFO Sells 7,486 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 7,486 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the transaction, the chief financial officer now owns 632,736 shares of the company’s stock, valued at approximately $8,225,568. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Fastly Stock Performance

Shares of FSLY traded down $0.14 during trading hours on Thursday, hitting $12.38. The company had a trading volume of 2,216,954 shares, compared to its average volume of 3,919,865. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.35. Fastly, Inc. has a one year low of $11.61 and a one year high of $25.87. The company’s fifty day moving average price is $14.59 and its two-hundred day moving average price is $16.54.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.05. The firm had revenue of $137.78 million during the quarter, compared to analyst estimates of $139.25 million. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. Equities research analysts expect that Fastly, Inc. will post -1.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FSLY shares. Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $12.00 to $18.00 in a report on Monday, January 8th. Piper Sandler raised Fastly from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $19.00 to $16.00 in a research report on Monday, April 8th. Craig Hallum lowered Fastly from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research report on Thursday, February 15th. Bank of America decreased their target price on Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Finally, Citigroup raised Fastly from a “sell” rating to a “neutral” rating and lifted their target price for the company from $11.00 to $20.00 in a research report on Monday, January 22nd. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.11.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FSLY. Neo Ivy Capital Management acquired a new position in Fastly during the 2nd quarter valued at about $29,000. Meeder Asset Management Inc. grew its stake in Fastly by 13,926.9% during the 4th quarter. Meeder Asset Management Inc. now owns 3,647 shares of the company’s stock valued at $30,000 after purchasing an additional 3,621 shares during the last quarter. Hanseatic Management Services Inc. purchased a new stake in Fastly during the 3rd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Fastly during the 3rd quarter valued at about $36,000. Finally, MetLife Investment Management LLC purchased a new stake in Fastly during the 1st quarter valued at about $37,000. 79.71% of the stock is owned by institutional investors and hedge funds.

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.