Fastly, Inc. (NYSE:FSLY) Short Interest Down 7.3% in January

Fastly, Inc. (NYSE:FSLY) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 9,310,000 shares, a decrease of 7.3% from the January 15th total of 10,040,000 shares. Based on an average trading volume of 3,250,000 shares, the short-interest ratio is presently 2.9 days.

Fastly Trading Up 1.5 %

Shares of NYSE FSLY opened at $8.19 on Wednesday. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $15.80. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -7.51 and a beta of 1.26. The business’s 50 day moving average price is $9.82 and its 200-day moving average price is $8.12. 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 announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. On average, sell-side analysts expect that Fastly will post -0.86 earnings per share for the current year.

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 12,500 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $125,000.00. Following the sale, the chief financial officer now directly owns 525,850 shares in the company, valued at approximately $5,258,500. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Artur Bergman sold 29,858 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.07, for a total value of $300,670.06. Following the completion of the sale, the chief technology officer now owns 6,088,236 shares in the company, valued at $61,308,536.52. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,312 shares of company stock valued at $1,770,133 over the last 90 days. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Fastly by 15.2% during 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 in the last quarter. Wealth Effects LLC boosted its position in Fastly by 86.9% during the 3rd quarter. Wealth Effects LLC now owns 23,651 shares of the company’s stock valued at $179,000 after acquiring an additional 11,000 shares in the last quarter. International Assets Investment Management LLC boosted its position in Fastly by 308.0% during the 3rd quarter. International Assets Investment Management LLC now owns 76,101 shares of the company’s stock valued at $5,760,000 after acquiring an additional 57,448 shares in the last quarter. Entropy Technologies LP boosted its position in Fastly by 118.7% during the 3rd quarter. Entropy Technologies LP now owns 39,803 shares of the company’s stock valued at $301,000 after acquiring an additional 21,600 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in Fastly during the 3rd quarter valued at $89,000. Institutional investors own 79.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Robert W. Baird upped 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. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research report on Monday, December 2nd. Royal Bank of Canada decreased their price objective on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Finally, DA Davidson upped their price objective on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Fastly has a consensus rating of “Hold” and a consensus price target of $8.55.

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.