Fastly, Inc. (NYSE:FSLY) CFO Sells $23,710.40 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 2,920 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.12, for a total transaction of $23,710.40. Following the transaction, the chief financial officer now directly owns 539,542 shares of the company’s stock, valued at $4,381,081.04. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Fastly Trading Down 0.4 %

FSLY stock opened at $7.92 on Friday. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock’s fifty day simple moving average is $7.36 and its two-hundred day simple moving average is $7.28.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The firm had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. During the same period in the prior year, the firm earned ($0.33) EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts expect that Fastly, Inc. will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Fastly by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock valued at $22,831,000 after buying an additional 46,951 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Fastly during the 3rd quarter valued at $183,000. XTX Topco Ltd purchased a new stake in shares of Fastly during the third quarter worth $400,000. Zacks Investment Management bought a new position in shares of Fastly in the third quarter worth $914,000. Finally, Quadrature Capital Ltd grew its position in shares of Fastly by 84.2% in the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock valued at $848,000 after purchasing an additional 51,224 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. DA Davidson lifted their target price on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Morgan Stanley cut their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Finally, Craig Hallum raised their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.94.

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.