Fastly, Inc. (NYSE:FSLY) CEO Sells $311,350.00 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 49,816 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $311,350.00. Following the transaction, the chief executive officer now owns 1,600,973 shares of the company’s stock, valued at $10,006,081.25. This trade represents a 3.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Todd Nightingale also recently made the following trade(s):

• On Friday, August 23rd, Todd Nightingale sold 12,163 shares of Fastly stock. The shares were sold at an average price of $6.25, for a total value of $76,018.75.

Fastly Price Performance

NYSE FSLY opened at $7.56 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock’s fifty day moving average price is $7.27 and its 200 day moving average price is $7.30. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -6.94 and a beta of 1.24.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. During the same period in the prior year, the company earned ($0.33) earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Morgan Stanley lowered their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Piper Sandler upped their target price on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. DA Davidson upped their target price on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Craig Hallum upped their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, Fastly has a consensus rating of “Hold” and a consensus target price of $7.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Trust Co. acquired a new stake in Fastly in the 1st quarter valued at about $39,000. Cape Investment Advisory Inc. raised its holdings in Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after acquiring an additional 4,150 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Fastly in the 2nd quarter valued at about $38,000. EntryPoint Capital LLC raised its holdings in Fastly by 41.1% in the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock valued at $73,000 after acquiring an additional 1,643 shares during the last quarter. Finally, FMR LLC raised its holdings in Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

About Fastly

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.