Ronald W. Kisling Sells 12,000 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $7.27, for a total transaction of $87,240.00. Following the transaction, the chief financial officer now owns 593,506 shares of the company’s stock, valued at approximately $4,314,788.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Fastly Price Performance

FSLY stock traded up $0.23 during mid-day trading on Wednesday, hitting $7.40. 1,299,423 shares of the stock were exchanged, compared to its average volume of 3,915,637. The business has a fifty day moving average price of $8.51 and a 200 day moving average price of $13.57. Fastly, Inc. has a 12 month low of $6.77 and a 12 month high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -7.37 and a beta of 1.14.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The company had revenue of $133.52 million during the quarter, compared to analysts’ expectations of $133.01 million. On average, sell-side analysts anticipate that Fastly, Inc. will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Fastly

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in Fastly by 1,420.9% during the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock valued at $38,000 after purchasing an additional 1,975 shares during the last quarter. Cambridge Trust Co. bought a new stake in Fastly in the first quarter valued at $39,000. Cape Investment Advisory Inc. increased its position in Fastly by 27,666.7% during the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after purchasing an additional 4,150 shares during the period. International Assets Investment Management LLC bought a new position in Fastly in the 4th quarter worth $61,000. Finally, EntryPoint Capital LLC lifted its position in shares of Fastly by 41.1% in the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after purchasing an additional 1,643 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analyst Ratings Changes

FSLY has been the subject of several research analyst reports. Royal Bank of Canada decreased their price target on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. Bank of America lowered Fastly from a “buy” rating to an “underperform” rating and lowered their target price for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd. DA Davidson downgraded Fastly from a “buy” rating to a “neutral” rating and cut their price target for the stock from $24.00 to $8.50 in a research note on Thursday, May 2nd. Piper Sandler upgraded Fastly from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $19.00 to $16.00 in a research note on Monday, April 8th. Finally, Citigroup dropped their price objective on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Fastly has a consensus rating of “Hold” and an average price target of $14.44.

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.