Traders Purchase Large Volume of Fastly Call Options (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the target of unusually large options trading activity on Monday. Traders bought 22,782 call options on the stock. This is an increase of approximately 239% compared to the typical daily volume of 6,711 call options.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Piper Sandler raised 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. Royal Bank of Canada raised their price target on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Morgan Stanley reduced their price target 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. Finally, Robert W. Baird lifted their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.35.

Insider Buying and Selling

In other Fastly news, CTO Artur Bergman sold 19,889 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the transaction, the chief technology officer now directly owns 6,205,000 shares in the company, valued at $36,981,800. This represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Nightingale sold 49,816 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $311,350.00. Following the transaction, the chief executive officer now owns 1,600,973 shares of the company’s stock, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,439 shares of company stock valued at $1,209,560 over the last quarter. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Institutional investors and hedge funds have recently bought and sold shares of the business. Penserra Capital Management LLC increased its stake in shares of Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after buying an additional 801,968 shares during the period. Geode Capital Management LLC raised its stake in shares of Fastly by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock worth $22,831,000 after purchasing an additional 46,951 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Fastly by 11,140.2% during the third 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in Fastly by 18.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after acquiring an additional 161,070 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in 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 in the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Trading Up 17.7 %

Shares of FSLY stock traded up $1.50 on Monday, hitting $9.98. 3,283,487 shares of the stock traded hands, compared to its average volume of 3,513,274. The firm’s 50-day moving average price is $7.39 and its two-hundred day moving average price is $7.25. 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 capitalization of $1.40 billion, a PE ratio of -9.06 and a beta of 1.24. Fastly has a twelve month low of $5.52 and a twelve month high of $25.87.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The firm had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. Fastly’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) EPS. As a group, analysts anticipate that Fastly will post -0.87 EPS for the current year.

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.