Richard Devon Daniels Sells 7,766 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLYGet Free Report) Director Richard Devon Daniels sold 7,766 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $12.66, for a total value of $98,317.56. Following the completion of the sale, the director now directly owns 34,328 shares of the company’s stock, valued at approximately $434,592.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Fastly Trading Up 0.4 %

Shares of NYSE:FSLY opened at $12.78 on Wednesday. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.35. Fastly, Inc. has a 1 year low of $11.61 and a 1 year high of $25.87. The stock has a 50-day simple moving average of $17.45 and a 200-day simple moving average of $17.67.

Fastly (NYSE:FSLYGet Free Report) last issued its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. The business had revenue of $137.78 million during the quarter, compared to analysts’ expectations of $139.25 million. As a group, sell-side analysts forecast that Fastly, Inc. will post -1.07 EPS for the current year.

Institutional Trading of Fastly

Institutional investors have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Fastly during the 4th quarter worth approximately $409,000. Vanguard Group Inc. lifted its position in Fastly by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,924,190 shares of the company’s stock worth $230,051,000 after acquiring an additional 192,076 shares in the last quarter. Wellington Management Group LLP acquired a new position in Fastly during the 4th quarter worth approximately $2,933,000. Goldman Sachs Group Inc. lifted its position in Fastly by 9.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after acquiring an additional 162,659 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Fastly by 1.5% in the 4th quarter. American International Group Inc. now owns 60,081 shares of the company’s stock valued at $1,069,000 after purchasing an additional 873 shares in the last quarter. Hedge funds and other institutional investors own 65.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada raised Fastly from an “underperform” rating to a “sector perform” rating and raised their target price for the company from $12.00 to $18.00 in a report on Monday, January 8th. Citigroup raised Fastly from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $11.00 to $20.00 in a research note on Monday, January 22nd. Finally, Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.56.

Read Our Latest Stock Report on FSLY

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

Insider Buying and Selling by Quarter for Fastly (NYSE:FSLY)

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