Ronald W. Kisling Sells 6,038 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 6,038 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total value of $57,059.10. Following the transaction, the chief financial officer now directly owns 519,812 shares of the company’s stock, valued at approximately $4,912,223.40. This trade represents a 1.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fastly Trading Up 1.0 %

FSLY stock opened at $9.70 on Thursday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -8.89 and a beta of 1.24. The company has a fifty day moving average price of $9.23 and a two-hundred day moving average price of $7.82. Fastly, Inc. has a one year low of $5.52 and a one 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.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS 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 business had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. During the same quarter in the prior year, the business earned ($0.33) EPS. Fastly’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that Fastly, Inc. will post -0.86 EPS for the current year.

Institutional Trading of Fastly

Several hedge funds have recently added to or reduced their stakes in FSLY. Point72 DIFC Ltd bought a new position in Fastly during the 2nd quarter worth $38,000. FMR LLC increased its position in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares during the period. Aigen Investment Management LP acquired a new stake in Fastly in the 3rd quarter worth about $89,000. Lombard Odier Asset Management USA Corp bought a new stake in Fastly in the 2nd quarter valued at about $114,000. Finally, Blue Trust Inc. grew its position in shares of Fastly by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after purchasing an additional 2,296 shares in the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on FSLY. Citigroup increased their target price on shares of Fastly from $9.00 to $10.00 and gave the stock 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 report on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Monday, December 2nd. DA Davidson raised their price target on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Piper Sandler upped their price objective on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.