Insider Selling: Fastly, Inc. (NYSE:FSLY) CFO Sells 5,894 Shares of Stock

Fastly, Inc. (NYSE:FSLY – Get Rating) CFO Ronald W. Kisling sold 5,894 shares of the firm’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $10.39, for a total value of $61,238.66. Following the completion of the sale, the chief financial officer now owns 371,688 shares in the company, valued at $3,861,838.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Fastly Stock Performance

Shares of Fastly stock opened at $10.24 on Monday. The stock has a market cap of $1.26 billion, a PE ratio of -6.06 and a beta of 1.30. The business has a fifty day simple moving average of $9.03 and a 200-day simple moving average of $9.57. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.75. Fastly, Inc. has a 12 month low of $7.15 and a 12 month high of $29.99.

Fastly (NYSE:FSLY – Get Rating) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.03. The business had revenue of $108.50 million during the quarter, compared to analysts’ expectations of $103.26 million. Fastly had a negative return on equity of 22.82% and a negative net margin of 49.05%. On average, sell-side analysts anticipate that Fastly, Inc. will post -1.89 EPS for the current fiscal year.

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently modified their holdings of FSLY. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Fastly during the second quarter valued at $424,000. Money Concepts Capital Corp boosted its position in Fastly by 5,390.9% during the third quarter. Money Concepts Capital Corp now owns 46,618 shares of the company’s stock valued at $427,000 after purchasing an additional 45,769 shares during the last quarter. SG Americas Securities LLC boosted its position in Fastly by 39.6% during the second quarter. SG Americas Securities LLC now owns 61,244 shares of the company’s stock valued at $711,000 after purchasing an additional 17,368 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Fastly during the second quarter valued at $216,000. Finally, Renaissance Technologies LLC boosted its position in Fastly by 15.8% during the second quarter. Renaissance Technologies LLC now owns 1,421,003 shares of the company’s stock valued at $16,498,000 after purchasing an additional 194,203 shares during the last quarter. Institutional investors and hedge funds own 60.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FSLY shares. Credit Suisse Group started coverage on Fastly in a research report on Monday, November 21st. They set a “neutral” rating and a $9.50 price target on the stock. Piper Sandler lowered their price target on Fastly from $13.00 to $10.00 in a research report on Thursday, November 3rd. Morgan Stanley lowered their price target on Fastly from $12.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday, October 20th. Finally, Citigroup lowered their price target on Fastly from $10.00 to $8.00 and set a “sell” rating on the stock in a research report on Tuesday, November 8th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.39.

Fastly Company Profile

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Fastly, Inc provides real-time content delivery network services. It offers edge compute, edge delivery, edge security, edge applications like load balancing and image optimization, video on demand, and managed edge delivery. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.