Ronald W. Kisling Sells 2,063 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 2,063 shares of Fastly stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total transaction of $14,172.81. Following the completion of the sale, the chief financial officer now directly owns 506,480 shares in the company, valued at $3,479,517.60. This represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Fastly Trading Down 3.5 %

Shares of FSLY stock opened at $6.74 on Friday. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $14.76. The stock has a market cap of $944.92 million, a price-to-earnings ratio of -5.91 and a beta of 1.26. The company’s 50-day moving average price is $9.34 and its 200-day moving average price is $8.13. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

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

Institutional Trading of Fastly

Hedge funds and other institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. acquired a new position in Fastly in the fourth quarter valued at about $35,334,000. Bank of Montreal Can raised its position in Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares during the period. Marshall Wace LLP acquired a new position in Fastly during the fourth quarter worth $7,618,000. Penserra Capital Management LLC lifted its stake in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Fastly during the fourth quarter worth $7,088,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum boosted their price objective on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. DA Davidson raised their target price on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and set a $9.00 price target (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Finally, Citigroup raised their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. One equities research 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.55.

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.