Fastly (NYSE:FSLY) Research Coverage Started at Oppenheimer

Oppenheimer started coverage on shares of Fastly (NYSE:FSLY) in a research report released on Thursday. The brokerage issued a market perform rating on the stock.

Several other brokerages have also issued reports on FSLY. Piper Sandler restated a “neutral” rating and set a $9.00 price target (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Royal Bank of Canada cut their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Finally, Citigroup raised their price objective on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Fastly presently has an average rating of “Hold” and an average target price of $8.55.

Fastly Stock Performance

Shares of Fastly stock opened at $7.13 on Thursday. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly has a twelve month low of $5.52 and a twelve month high of $14.12. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -6.25 and a beta of 1.31. The company’s fifty day moving average is $8.43 and its 200 day moving average is $8.22.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Sell-side analysts forecast that Fastly will post -0.78 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Artur Bergman sold 5,304 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total transaction of $36,491.52. Following the transaction, the chief technology officer now owns 3,669,058 shares in the company, valued at $25,243,119.04. This represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $9.45, for a total transaction of $57,059.10. Following the transaction, the chief financial officer now owns 519,812 shares in the company, valued at approximately $4,912,223.40. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 173,699 shares of company stock worth $1,587,050. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of Fastly

Several institutional investors and hedge funds have recently modified their holdings of the company. 180 Wealth Advisors LLC grew its stake in Fastly by 2.5% during the fourth quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after acquiring an additional 1,695 shares in the last quarter. AlphaQuest LLC grew its stake in Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after acquiring an additional 2,960 shares in the last quarter. Rhumbline Advisers grew its stake in Fastly by 1.6% during the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock valued at $1,814,000 after acquiring an additional 3,081 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after acquiring an additional 3,221 shares in the last quarter. Finally, Mariner LLC grew its stake in Fastly by 18.0% during the fourth quarter. Mariner LLC now owns 22,868 shares of the company’s stock valued at $216,000 after acquiring an additional 3,487 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

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.