Ronald W. Kisling Sells 2,920 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 2,920 shares of Fastly stock in a transaction that occurred 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 in the company, valued at approximately $4,381,081.04. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Fastly Trading Down 0.4 %

NYSE:FSLY traded down $0.03 on Wednesday, hitting $7.92. The stock had a trading volume of 1,606,142 shares, compared to its average volume of 3,524,477. The company has a fifty day moving average price of $7.33 and a two-hundred day moving average price of $7.27. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -7.28 and a beta of 1.24.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $131.86 million. During the same period in the previous year, the firm earned ($0.33) EPS. Fastly’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Fastly, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Fastly

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

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.