Fastly, Inc. (NYSE:FSLY) Sees Significant Drop in Short Interest

Fastly, Inc. (NYSE:FSLY) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 9,260,000 shares, a decline of 8.5% from the December 15th total of 10,120,000 shares. Based on an average trading volume of 3,210,000 shares, the short-interest ratio is presently 2.9 days.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 8,049 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.04, for a total transaction of $80,811.96. Following the transaction, the chief technology officer now owns 3,426,087 shares in the company, valued at $34,397,913.48. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Nightingale sold 49,816 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $311,350.00. Following the completion of the sale, the chief executive officer now owns 1,600,973 shares of the company’s stock, valued at approximately $10,006,081.25. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,741 shares of company stock valued at $1,993,300. Company insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

A number of large investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new stake in shares of Fastly during the 2nd quarter worth approximately $38,000. FMR LLC grew its stake in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Fastly in the third quarter worth $89,000. Lombard Odier Asset Management USA Corp bought a new stake in Fastly in the second quarter valued at $114,000. Finally, Blue Trust Inc. boosted its holdings in shares of Fastly by 15.2% during the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after acquiring an additional 2,296 shares during the period. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Down 1.1 %

NYSE:FSLY opened at $9.31 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -8.54 and a beta of 1.24. Fastly has a one year low of $5.52 and a one year high of $25.87. The stock has a 50-day simple moving average of $9.11 and a 200 day simple moving average of $7.77.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. The company had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.33) EPS. Sell-side analysts predict that Fastly will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FSLY has been the subject of several recent research reports. Craig Hallum increased their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Piper Sandler raised their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Monday, December 2nd. DA Davidson raised their target price on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird boosted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Fastly presently has an average rating of “Hold” and an average price target of $8.85.

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.