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

Fastly, Inc. (NYSE:FSLYGet Free Report) saw unusually large options trading on Thursday. Investors acquired 16,219 call options on the stock. This is an increase of approximately 134% compared to the average daily volume of 6,929 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank of Canada raised Fastly from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from $12.00 to $18.00 in a research note on Monday, January 8th. Citigroup raised Fastly from a “sell” rating to a “neutral” rating and increased their target price for the stock from $11.00 to $20.00 in a research note on Monday, January 22nd. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.25.

Read Our Latest Research Report on Fastly

Fastly Stock Performance

Shares of FSLY opened at $23.24 on Friday. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $18.78 and a two-hundred day simple moving average of $18.55. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -18.74 and a beta of 1.33. Fastly has a 52 week low of $9.72 and a 52 week high of $24.31.

Insider Buying and Selling

In other Fastly news, CFO Ronald W. Kisling sold 5,730 shares of Fastly stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $17.24, for a total transaction of $98,785.20. Following the completion of the transaction, the chief financial officer now owns 462,684 shares of the company’s stock, valued at approximately $7,976,672.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Fastly news, CEO Todd Nightingale sold 233,270 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $16.24, for a total value of $3,788,304.80. Following the completion of the sale, the chief executive officer now owns 1,422,056 shares in the company, valued at $23,094,189.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronald W. Kisling sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $17.24, for a total value of $98,785.20. Following the completion of the sale, the chief financial officer now owns 462,684 shares of the company’s stock, valued at approximately $7,976,672.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 709,321 shares of company stock valued at $12,285,822. 7.60% of the stock is owned by insiders.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hanseatic Management Services Inc. purchased a new stake in shares of Fastly during the third quarter worth about $33,000. Neo Ivy Capital Management bought a new stake in shares of Fastly during the 2nd quarter worth approximately $29,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Fastly during the 3rd quarter valued at $36,000. MetLife Investment Management LLC purchased a new position in shares of Fastly in the 1st quarter valued at $37,000. Finally, Allworth Financial LP increased its holdings in shares of Fastly by 1,420.9% in the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock valued at $38,000 after acquiring an additional 1,975 shares during the period. Hedge funds and other institutional investors own 65.65% of the company’s stock.

About Fastly

(Get Free Report)

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.

Further Reading

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