Traders Buy Large Volume of Fastly Call Options (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY – Get Rating) was the target of unusually large options trading activity on Monday. Investors acquired 13,601 call options on the stock. This represents an increase of approximately 68% compared to the typical volume of 8,090 call options.

Wall Street Analyst Weigh In

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

Insider Transactions at Fastly

In related news, Director David Hornik sold 396,542 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $9.92, for a total value of $3,933,696.64. Following the completion of the sale, the director now owns 197,178 shares in the company, valued at $1,956,005.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director David Hornik sold 396,542 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $9.92, for a total value of $3,933,696.64. Following the completion of the sale, the director now owns 197,178 shares in the company, valued at $1,956,005.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Brett Shirk sold 4,706 shares of the firm’s stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $8.84, for a total transaction of $41,601.04. Following the completion of the sale, the executive vice president now owns 235,040 shares of the company’s stock, valued at approximately $2,077,753.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 511,393 shares of company stock worth $5,113,437. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Fastly

A number of institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC acquired a new stake in Fastly during the first quarter valued at approximately $37,000. Penserra Capital Management LLC lifted its stake in Fastly by 50.0% during the first quarter. Penserra Capital Management LLC now owns 3,072 shares of the company’s stock valued at $53,000 after purchasing an additional 1,024 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Fastly during the third quarter valued at approximately $60,000. Captrust Financial Advisors lifted its stake in Fastly by 32.2% during the first quarter. Captrust Financial Advisors now owns 3,859 shares of the company’s stock valued at $67,000 after purchasing an additional 941 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Fastly during the third quarter valued at approximately $98,000. 60.74% of the stock is owned by institutional investors and hedge funds.

Fastly Price Performance

Shares of NYSE:FSLY opened at $10.62 on Tuesday. 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 has a fifty-two week low of $7.15 and a fifty-two week high of $29.99. The firm has a 50-day simple moving average of $9.05 and a 200 day simple moving average of $9.54. The company has a market cap of $1.31 billion, a PE ratio of -6.28 and a beta of 1.30.

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

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.