Todd Nightingale Sells 12,163 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 12,163 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $6.25, for a total transaction of $76,018.75. Following the completion of the transaction, the chief executive officer now owns 1,650,789 shares in the company, valued at $10,317,431.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Todd Nightingale also recently made the following trade(s):

• On Friday, August 16th, Todd Nightingale sold 66,066 shares of Fastly stock. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88.

Fastly Price Performance

Fastly stock opened at $5.79 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.83 and a current ratio of 3.83. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87. The stock has a market capitalization of $790.45 million, a P/E ratio of -5.79 and a beta of 1.13. The stock has a fifty day moving average of $7.13 and a 200-day moving average of $10.16.

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

Analyst Ratings Changes

FSLY has been the topic of several recent research reports. Morgan Stanley lowered their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday. Bank of America cut Fastly from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $18.00 to $8.00 in a report on Thursday, May 2nd. Royal Bank of Canada cut 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. DA Davidson cut Fastly from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $24.00 to $8.50 in a research report on Thursday, May 2nd. Finally, Raymond James cut their price objective on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.81.

Institutional Trading of Fastly

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake 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 valued at $176,152,000 after purchasing an additional 657,334 shares in the last quarter. First Trust Advisors LP lifted its holdings 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 during the period. Goldman Sachs Group Inc. grew its stake in shares of Fastly by 9.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after purchasing an additional 162,659 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Fastly in the first quarter worth $13,724,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Fastly by 94.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after purchasing an additional 466,560 shares during the period. Institutional investors and hedge funds 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.