Fastly Sees Unusually High Options Volume (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 29,107 call options on the company. This represents an increase of 125% compared to the typical daily volume of 12,949 call options.

Insider Activity

In other news, insider Artur Bergman sold 21,875 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.19, for a total transaction of $551,031.25. Following the transaction, the insider now directly owns 6,050,259 shares in the company, valued at $152,406,024.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Artur Bergman sold 21,875 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.19, for a total transaction of $551,031.25. Following the completion of the sale, the insider now owns 6,050,259 shares of the company’s stock, valued at $152,406,024.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Nightingale sold 50,708 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.09, for a total transaction of $815,891.72. Following the sale, the chief executive officer now directly owns 1,371,348 shares of the company’s stock, valued at approximately $22,064,989.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,076 shares of company stock worth $3,620,434. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its stake in Fastly by 2.7% in the 3rd quarter. Arizona State Retirement System now owns 32,544 shares of the company’s stock valued at $624,000 after purchasing an additional 844 shares in the last quarter. Laird Norton Trust Company LLC grew its holdings in Fastly by 1.9% during the 3rd quarter. Laird Norton Trust Company LLC now owns 45,780 shares of the company’s stock valued at $878,000 after buying an additional 862 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Fastly by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock valued at $133,000 after buying an additional 863 shares during the last quarter. CWM LLC grew its holdings in Fastly by 5.4% during the 3rd quarter. CWM LLC now owns 22,776 shares of the company’s stock valued at $437,000 after buying an additional 1,177 shares during the last quarter. Finally, Hanseatic Management Services Inc. acquired a new stake in Fastly during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Price Performance

Fastly stock opened at $12.82 on Thursday. The company’s 50 day simple moving average is $13.47 and its 200-day simple moving average is $16.38. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -12.33 and a beta of 1.22. Fastly has a 1 year low of $11.61 and a 1 year high of $25.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. The firm had revenue of $137.78 million during the quarter, compared to analysts’ expectations of $139.25 million. As a group, equities research analysts expect that Fastly will post -1.07 earnings per share for the current year.

Analyst Ratings Changes

FSLY has been the subject of a number of research analyst reports. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a report on Thursday, February 15th. Royal Bank of Canada raised shares of Fastly from an “underperform” rating to a “sector perform” rating and raised their target price for the stock from $12.00 to $18.00 in a report on Monday, January 8th. Citigroup raised shares of Fastly from a “sell” rating to a “neutral” rating and raised their target price for the stock from $11.00 to $20.00 in a report on Monday, January 22nd. Bank of America reduced their target price on shares of Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Finally, Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $19.00 to $16.00 in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.11.

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.