Insider Selling: Fastly, Inc. (NYSE:FSLY) CFO Sells $53,930.76 in Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 7,449 shares of Fastly stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the completion of the transaction, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at $4,044,003.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Fastly Trading Up 1.7 %

Shares of FSLY stock opened at $7.32 on Monday. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The firm has a market capitalization of $1.00 billion, a PE ratio of -7.32 and a beta of 1.22. The stock has a fifty day moving average of $6.72 and a two-hundred day moving average of $8.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The firm had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. During the same quarter in the prior year, the firm posted ($0.32) EPS. Fastly’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Fastly, Inc. will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Fastly by 5.1% during the 1st 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. Goldman Sachs Group Inc. lifted its holdings 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 valued at $33,942,000 after buying an additional 162,659 shares during the period. Jennison Associates LLC bought a new position in Fastly during the first quarter valued at about $13,724,000. CANADA LIFE ASSURANCE Co grew its holdings in 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 acquiring an additional 466,560 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after acquiring an additional 621,680 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

FSLY has been the subject of a number of research reports. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Piper Sandler lowered Fastly from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $6.00 in a research report on Thursday, August 8th. Craig Hallum dropped their target price on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Morgan Stanley reduced their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, Fastly has a consensus rating of “Hold” and a consensus target price of $7.81.

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.