Ronald W. Kisling Sells 12,500 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,500 shares of Fastly 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 completion of the transaction, the chief financial officer now owns 525,850 shares in the company, valued at approximately $5,258,500. This represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Fastly Stock Performance

Shares of Fastly stock opened at $9.45 on Friday. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The firm’s 50-day moving average is $8.96 and its 200 day moving average is $7.71. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -8.67 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 (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The firm had revenue of $137.21 million for 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%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Sell-side analysts anticipate that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Trading of Fastly

A number of institutional investors and hedge funds have recently modified their holdings of FSLY. Point72 DIFC Ltd bought a new position in shares of Fastly during the second quarter valued at $38,000. FMR LLC increased its holdings in Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after buying an additional 4,318 shares in the last quarter. Aigen Investment Management LP bought a new stake in Fastly in the third quarter worth $89,000. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of Fastly in the 2nd quarter worth about $114,000. Institutional investors own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Monday, December 2nd. Craig Hallum increased their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Raymond James cut shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, DA Davidson increased their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.