Fastly, Inc. (NYSE:FSLY) Given Consensus Rating of “Hold” by Brokerages

Fastly, Inc. (NYSE:FSLY – Get Rating) has earned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $14.35.

Several analysts recently commented on FSLY shares. Credit Suisse Group upped their price target on shares of Fastly from $9.50 to $11.50 and gave the company a “neutral” rating in a research report on Thursday, February 16th. Royal Bank of Canada upped their price target on shares of Fastly from $6.00 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, February 16th. Bank of America upgraded shares of Fastly from an “underperform” rating to a “buy” rating and upped their price target for the company from $10.50 to $16.00 in a research report on Monday, February 13th. DA Davidson upgraded shares of Fastly from a “neutral” rating to a “buy” rating and upped their price target for the company from $8.50 to $17.00 in a research report on Thursday, February 16th. Finally, Robert W. Baird upped their price target on shares of Fastly from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th.

Fastly Stock Up 10.6 %

Shares of NYSE:FSLY opened at $16.11 on Friday. The company has a market capitalization of $2.02 billion, a PE ratio of -10.20 and a beta of 1.28. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.75. Fastly has a twelve month low of $7.15 and a twelve month high of $20.03. The firm has a 50 day simple moving average of $12.20 and a 200-day simple moving average of $9.99.

Insider Activity at Fastly

In related news, insider Artur Bergman sold 2,420 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $13.94, for a total value of $33,734.80. Following the sale, the insider now directly owns 6,640,889 shares of the company’s stock, valued at approximately $92,573,992.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Fastly news, EVP Brett Shirk sold 7,000 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $14.43, for a total value of $101,010.00. Following the transaction, the executive vice president now directly owns 210,097 shares in the company, valued at approximately $3,031,699.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Artur Bergman sold 2,420 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $13.94, for a total transaction of $33,734.80. Following the completion of the transaction, the insider now owns 6,640,889 shares in the company, valued at $92,573,992.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,200 shares of company stock valued at $2,658,007. Insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Fastly by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,899,919 shares of the company’s stock worth $99,843,000 after acquiring an additional 582,897 shares during the period. First Trust Advisors LP lifted its holdings in shares of Fastly by 27.1% during the 3rd quarter. First Trust Advisors LP now owns 9,916,313 shares of the company’s stock worth $90,833,000 after acquiring an additional 2,111,822 shares during the period. Legal & General Group Plc lifted its holdings in shares of Fastly by 114.8% during the 2nd quarter. Legal & General Group Plc now owns 7,466,124 shares of the company’s stock worth $86,682,000 after acquiring an additional 3,989,496 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Fastly during the 4th quarter worth about $42,697,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Fastly during the 4th quarter worth about $30,870,000. 60.74% of the stock is currently owned by hedge funds and other institutional investors.

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.