Ronald W. Kisling Sells 15,933 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 15,933 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $98,465.94. Following the transaction, the chief financial officer now owns 570,124 shares of the company’s stock, valued at approximately $3,523,366.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Fastly Stock Down 0.2 %

Fastly stock opened at $6.46 on Thursday. The business has a fifty day moving average of $7.21 and a two-hundred day moving average of $10.70. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.35. The firm has a market cap of $882.68 million, a P/E ratio of -6.46 and a beta of 1.13. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. Fastly’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) earnings per share. On average, analysts forecast that Fastly, Inc. will post -1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on FSLY. Royal Bank of Canada dropped their target price on Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, May 2nd. Raymond James lowered their price target on Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Piper Sandler lowered Fastly from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $6.00 in a report on Thursday, August 8th. Citigroup lowered their price target on Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, Craig Hallum lowered their price target on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.93.

Institutional Trading of Fastly

A number of hedge funds have recently bought and sold shares of FSLY. Jennison Associates LLC acquired a new position in shares of Fastly during the first quarter worth $13,724,000. First Trust Advisors LP increased its position in shares of Fastly by 21.8% during the fourth quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after purchasing an additional 998,749 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Fastly by 5.1% during the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after purchasing an additional 657,334 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Fastly by 461.5% during the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after purchasing an additional 621,680 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after purchasing an additional 466,560 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Company Profile

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.