Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 7,486 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 7,486 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total transaction of $97,318.00. Following the completion of the sale, the chief financial officer now owns 632,736 shares of the company’s stock, valued at approximately $8,225,568. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Fastly Trading Down 1.1 %

NYSE FSLY opened at $12.38 on Friday. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.66 billion, a PE ratio of -11.90 and a beta of 1.22. The company has a 50 day moving average price of $14.37 and a 200 day moving average price of $16.51. Fastly, Inc. has a 52 week low of $11.61 and a 52 week high of $25.87.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.05. The firm had revenue of $137.78 million during the quarter, compared to analyst estimates of $139.25 million. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. As a group, sell-side analysts forecast that Fastly, Inc. will post -1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FSLY shares. Bank of America reduced their price target on shares of Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a report on Thursday, February 15th. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $19.00 to $16.00 in a report on Monday, April 8th. Royal Bank of Canada upgraded shares of Fastly from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from $12.00 to $18.00 in a report on Monday, January 8th. Finally, Citigroup upgraded shares of Fastly from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $11.00 to $20.00 in a research note on Monday, January 22nd. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

Institutional Trading of Fastly

Several large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its position in Fastly by 7.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,797 shares of the company’s stock worth $154,000 after purchasing an additional 680 shares during the last quarter. Arizona State Retirement System grew its position in Fastly by 2.7% during the 3rd quarter. Arizona State Retirement System now owns 32,544 shares of the company’s stock worth $624,000 after purchasing an additional 844 shares during the last quarter. Laird Norton Trust Company LLC grew its position in Fastly by 1.9% during the 3rd quarter. Laird Norton Trust Company LLC now owns 45,780 shares of the company’s stock worth $878,000 after purchasing an additional 862 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Fastly by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock worth $133,000 after purchasing an additional 863 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Fastly by 6.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,166 shares of the company’s stock worth $252,000 after purchasing an additional 872 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Company Profile

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.