Ronald W. Kisling Sells 2,919 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 2,919 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $6.25, for a total transaction of $18,243.75. Following the transaction, the chief financial officer now owns 567,205 shares of the company’s stock, valued at approximately $3,545,031.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Fastly Stock Performance

NYSE FSLY opened at $5.79 on Thursday. The company has a fifty day simple moving average of $7.13 and a 200 day simple moving average of $10.16. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.35. The company has a market cap of $790.45 million, a P/E ratio of -5.79 and a beta of 1.13.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Piper Sandler lowered shares of Fastly from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $6.00 in a report on Thursday, August 8th. Bank of America lowered shares of Fastly from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $18.00 to $8.00 in a report on Thursday, May 2nd. Raymond James lowered their price target on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Morgan Stanley lowered their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada lowered their price objective on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.81.

Institutional Trading of Fastly

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after acquiring an additional 657,334 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Fastly by 21.8% during the 4th 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. raised its stake in shares of Fastly by 9.3% during the 4th 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 period. Jennison Associates LLC bought a new stake in shares of Fastly during the 1st quarter worth $13,724,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Fastly by 94.4% during the 1st 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 during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.