Ronald W. Kisling Sells 7,486 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 7,486 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the transaction, the chief financial officer now owns 632,736 shares in the company, valued at $8,225,568. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Fastly Trading Down 0.6 %

FSLY opened at $12.30 on Friday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -11.83 and a beta of 1.22. The stock’s 50 day moving average price is $14.13 and its 200-day moving average price is $16.47. Fastly, Inc. has a one year low of $11.61 and a one 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 released its earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The firm had revenue of $137.78 million for the quarter, compared to analysts’ expectations of $139.25 million. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. On average, equities analysts forecast that Fastly, Inc. will post -1.07 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on FSLY shares. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research report on Thursday, February 15th. Piper Sandler upgraded Fastly from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $19.00 to $16.00 in a research report on Monday, April 8th. Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $12.00 to $18.00 in a research report on Monday, January 8th. Bank of America reduced their price objective on Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Finally, Citigroup raised Fastly from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $11.00 to $20.00 in a research note on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fastly has a consensus rating of “Moderate Buy” and an average price target of $19.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd lifted its holdings in Fastly by 77.7% during the third quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock worth $14,902,000 after buying an additional 339,820 shares during the period. Essex Investment Management Co. LLC purchased a new stake in Fastly during the third quarter worth $1,942,000. Vanguard Group Inc. lifted its holdings in Fastly by 3.1% during the third quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock worth $244,075,000 after buying an additional 381,845 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Fastly during the third quarter worth $477,000. Finally, Moody Aldrich Partners LLC purchased a new stake in Fastly during the fourth quarter worth $2,155,000. Institutional investors own 79.71% of the company’s stock.

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.