Fastly, Inc. (NYSE:FSLY) CRO Scott R. Lovett Sells 127,608 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CRO Scott R. Lovett sold 127,608 shares of Fastly stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $6.95, for a total value of $886,875.60. Following the transaction, the executive now directly owns 1,287,145 shares in the company, valued at approximately $8,945,657.75. The trade was a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Fastly Stock Down 0.5%

NYSE FSLY opened at $6.77 on Friday. The stock’s 50 day moving average is $6.85 and its 200 day moving average is $7.92. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $12.08. The stock has a market cap of $978.83 million, a PE ratio of -6.21 and a beta of 1.29.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Fastly had a negative return on equity of 12.29% and a negative net margin of 27.73%. The company had revenue of $144.47 million for the quarter, compared to analysts’ expectations of $138.40 million. During the same period in the previous year, the firm earned ($0.05) EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Research analysts predict that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock worth $1,814,000 after acquiring an additional 3,081 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Fastly in the 4th quarter worth approximately $149,000. Proficio Capital Partners LLC bought a new stake in Fastly in the 4th quarter worth approximately $181,000. Versor Investments LP bought a new stake in Fastly in the 4th quarter worth approximately $151,000. Finally, Jones Financial Companies Lllp increased its stake in Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after acquiring an additional 3,221 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FSLY shares. Royal Bank Of Canada lifted their price objective on Fastly from $5.00 to $6.00 and gave the company a “sector perform” rating in a research report on Thursday, May 8th. KeyCorp raised Fastly to a “sector weight” rating in a research report on Thursday, June 5th. Oppenheimer started coverage on Fastly in a research report on Thursday, March 20th. They set a “market perform” rating on the stock. Morgan Stanley lifted their price objective on Fastly from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Finally, Piper Sandler lifted their price objective on Fastly from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Fastly presently has an average rating of “Hold” and a consensus target price 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.