Fastly, Inc. (NYSE:FSLY) Short Interest Down 8.5% in January

Fastly, Inc. (NYSE:FSLY) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 9,260,000 shares, a decrease of 8.5% from the December 31st total of 10,120,000 shares. Based on an average daily volume of 3,210,000 shares, the days-to-cover ratio is currently 2.9 days.

Fastly Stock Performance

Shares of FSLY traded down $0.29 during mid-day trading on Monday, hitting $10.19. 1,988,709 shares of the company traded hands, compared to its average volume of 2,316,595. The stock has a 50-day moving average price of $9.78 and a two-hundred day moving average price of $7.98. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -9.34 and a beta of 1.24. Fastly has a 1 year low of $5.52 and a 1 year high of $25.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup increased their price target on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Robert W. Baird upped their price target on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. DA Davidson raised their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Craig Hallum upped their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fastly has an average rating of “Hold” and an average target price of $8.85.

Insider Transactions at Fastly

In related news, CEO Todd Nightingale sold 49,816 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $311,350.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $10.12, for a total value of $101,200.00. Following the sale, the chief technology officer now owns 3,384,136 shares of the company’s stock, valued at approximately $34,247,456.32. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 289,330 shares of company stock valued at $2,476,849 in the last ninety days. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new position in Fastly during the second quarter worth approximately $38,000. FMR LLC boosted its holdings in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares in the last quarter. Aigen Investment Management LP purchased a new position in Fastly during the 3rd quarter worth approximately $89,000. Blue Trust Inc. increased its stake in Fastly by 15.2% in the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after purchasing an additional 2,296 shares during the period. Finally, Wealth Effects LLC grew its position in Fastly by 86.9% in the 3rd quarter. Wealth Effects LLC now owns 23,651 shares of the company’s stock valued at $179,000 after buying an additional 11,000 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

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.