Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 2,122 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 2,122 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $7.19, for a total transaction of $15,257.18. Following the sale, the chief financial officer now directly owns 647,599 shares of the company’s stock, valued at approximately $4,656,236.81. The trade was a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Fastly Price Performance

FSLY opened at $7.34 on Friday. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08. The stock has a market capitalization of $1.06 billion, a P/E ratio of -6.43 and a beta of 1.47. 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 company’s 50 day simple moving average is $6.38 and its 200-day simple moving average is $7.94.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. The firm had revenue of $144.47 million for the quarter, compared to analysts’ expectations of $138.40 million. During the same period last year, the firm earned ($0.05) earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fastly

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Fastly by 2.0% in the first quarter. Vanguard Group Inc. now owns 15,590,433 shares of the company’s stock valued at $98,687,000 after acquiring an additional 300,572 shares during the last quarter. Legal & General Group Plc boosted its stake in Fastly by 2.4% in the fourth quarter. Legal & General Group Plc now owns 8,025,959 shares of the company’s stock valued at $75,765,000 after acquiring an additional 189,667 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Fastly by 83.1% in the first quarter. Penserra Capital Management LLC now owns 7,177,688 shares of the company’s stock valued at $45,434,000 after acquiring an additional 3,256,629 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Fastly in the fourth quarter valued at approximately $35,334,000. Finally, First Trust Advisors LP boosted its stake in Fastly by 4.9% in the fourth quarter. First Trust Advisors LP now owns 3,139,255 shares of the company’s stock valued at $29,635,000 after acquiring an additional 147,458 shares during the last quarter. 79.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Oppenheimer assumed coverage on shares of Fastly in a report on Thursday, March 20th. They set a “market perform” rating for the company. Morgan Stanley increased their price target on shares of Fastly from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Piper Sandler increased their price target on shares of Fastly from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada increased their price target on shares of Fastly from $5.00 to $6.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. Nine analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.28.

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.