Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale Sells 12,163 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 12,163 shares of Fastly stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.12, for a total value of $98,763.56. Following the completion of the transaction, the chief executive officer now owns 1,588,810 shares in the company, valued at $12,901,137.20. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, November 18th, Todd Nightingale sold 49,816 shares of Fastly stock. The stock was sold at an average price of $6.25, for a total value of $311,350.00.

Fastly Stock Performance

Shares of FSLY stock opened at $7.93 on Thursday. The stock has a fifty day moving average price of $7.35 and a 200 day moving average price of $7.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock has a market cap of $1.11 billion, a PE ratio of -7.27 and a beta of 1.24. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. The business had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.33) EPS. Sell-side analysts forecast that Fastly, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley cut their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Craig Hallum raised their price target on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Robert W. Baird raised their target price on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler upped their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.94.

Institutional Trading of Fastly

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can increased its stake in shares of Fastly by 11,140.2% during the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after purchasing an additional 1,293,490 shares in the last quarter. Penserra Capital Management LLC grew its holdings in Fastly by 18.8% during the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after buying an additional 801,968 shares during the last quarter. Vanguard Group Inc. increased its position in Fastly by 5.1% during the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after buying an additional 657,334 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after acquiring an additional 621,680 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Fastly in the second quarter valued at $1,233,000. 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.