Fastly (NYSE:FSLY) Director Richard Devon Daniels Sells 18,248 Shares of Stock

Fastly, Inc. (NYSE:FSLY) Director Richard Devon Daniels sold 18,248 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $7.61, for a total transaction of $138,867.28. Following the completion of the transaction, the director directly owned 67,652 shares in the company, valued at $514,831.72. This trade represents a 21.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Fastly Trading Down 1.4%

NYSE:FSLY opened at $7.35 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08. The company has a market cap of $1.08 billion, a PE ratio of -7.13 and a beta of 1.24. The firm has a 50-day moving average of $7.07 and a 200-day moving average of $6.86.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $148.71 million for the quarter, compared to analysts’ expectations of $144.86 million. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) EPS. As a group, equities research analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLY. Cim Investment Management Inc. increased its stake in shares of Fastly by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 38,304 shares of the company’s stock worth $270,000 after purchasing an additional 19,223 shares during the last quarter. State of Wyoming bought a new position in Fastly during the second quarter valued at $373,000. Caxton Associates LLP grew its holdings in Fastly by 65.8% during the second quarter. Caxton Associates LLP now owns 209,633 shares of the company’s stock valued at $1,480,000 after purchasing an additional 83,198 shares during the period. Tower Research Capital LLC TRC increased its position in Fastly by 64.4% in the second quarter. Tower Research Capital LLC TRC now owns 14,475 shares of the company’s stock worth $102,000 after buying an additional 5,670 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new stake in shares of Fastly in the second quarter valued at $265,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada upped their price target on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. Piper Sandler upped their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Craig Hallum upgraded shares of Fastly from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Thursday, August 7th. KeyCorp upgraded shares of Fastly to a “sector weight” rating in a report on Thursday, June 5th. Finally, Morgan Stanley upped their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.69.

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.