Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 6,038 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 6,038 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total transaction of $57,059.10. Following the completion of the transaction, the chief financial officer now directly owns 519,812 shares in the company, valued at approximately $4,912,223.40. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Fastly Trading Up 3.3 %

Shares of FSLY opened at $9.60 on Wednesday. The firm has a market cap of $1.35 billion, a P/E ratio of -8.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The company has a 50 day simple moving average of $9.18 and a two-hundred day simple moving average of $7.81.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $131.86 million. During the same period in the previous year, the firm posted ($0.33) EPS. Fastly’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts expect that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fastly

Several institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of Fastly during the 2nd quarter worth approximately $38,000. FMR LLC grew its stake in shares of Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Fastly in the 3rd quarter worth $89,000. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Fastly during the 2nd quarter valued at about $114,000. Finally, Blue Trust Inc. lifted its holdings in shares of Fastly by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after acquiring an additional 2,296 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Craig Hallum increased their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Monday, December 2nd. Citigroup upped their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Robert W. Baird lifted their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler increased their target price on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Fastly currently has a consensus rating of “Hold” and a consensus target price of $8.85.

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.