Fastly, Inc. (NYSE:FSLY) Given Consensus Rating of “Hold” by Analysts

Fastly, Inc. (NYSE:FSLY) has received an average rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.25.

FSLY has been the subject of several analyst reports. Royal Bank Of Canada raised their price objective on Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Citigroup increased their price target on Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Evercore assumed coverage on Fastly in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target for the company. William Blair raised Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Finally, Craig Hallum cut Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, April 14th.

Insider Buying and Selling

In other news, CEO Charles Lacey Compton III sold 73,206 shares of Fastly stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $20.94, for a total value of $1,532,933.64. Following the completion of the transaction, the chief executive officer owned 875,831 shares of the company’s stock, valued at $18,339,901.14. This trade represents a 7.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Artur Bergman sold 275,234 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $20.56, for a total transaction of $5,658,811.04. Following the transaction, the chief technology officer owned 1,909,901 shares in the company, valued at $39,267,564.56. This represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,469,658 shares of company stock worth $28,669,526. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in Fastly in the fourth quarter valued at approximately $41,000. Align Financial LLC bought a new position in shares of Fastly during the 4th quarter worth approximately $41,000. Byrne Asset Management LLC bought a new position in shares of Fastly during the 3rd quarter worth approximately $43,000. Quarry LP acquired a new position in shares of Fastly during the 3rd quarter worth approximately $49,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Fastly during the 1st quarter worth approximately $52,000. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Performance

Shares of NYSE:FSLY opened at $24.56 on Wednesday. The company’s 50-day moving average price is $23.03 and its two-hundred day moving average price is $14.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. Fastly has a one year low of $5.13 and a one year high of $34.82. The stock has a market capitalization of $3.73 billion, a PE ratio of -25.58 and a beta of 0.62.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.