Fastly (NYSE:FSLY) Trading Up 5.6% – Time to Buy?

Shares of Fastly, Inc. (NYSE:FSLY) were up 5.6% during mid-day trading on Monday . The stock traded as high as $7.20 and last traded at $7.24. Approximately 264,466 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 3,138,305 shares. The stock had previously closed at $6.85.

Analyst Upgrades and Downgrades

FSLY has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price target 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. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Monday, December 2nd. Citigroup boosted their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. One investment 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. According to data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and an average target price of $8.55.

Fastly Trading Up 4.3 %

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.27 and a beta of 1.31. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $8.67 and its two-hundred day moving average price is $8.19.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. On average, equities analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 6,038 shares of the company’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 value of $57,059.10. Following the sale, the chief financial officer now directly owns 519,812 shares in the company, valued at $4,912,223.40. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.01, for a total transaction of $40,834.00. Following the transaction, the chief technology officer now owns 3,444,136 shares of the company’s stock, valued at approximately $41,364,073.36. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,099 shares of company stock worth $1,627,884 in the last 90 days. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Hedge funds have recently bought and sold shares of the company. AlphaQuest LLC grew its holdings in Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after acquiring an additional 2,960 shares during the period. FMR LLC grew its stake in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares during the period. Jones Financial Companies Lllp increased its holdings in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after purchasing an additional 3,221 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in Fastly in the fourth quarter valued at approximately $72,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Fastly during the 4th quarter worth approximately $82,000. Institutional investors own 79.71% of the company’s stock.

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.