Fastly, Inc. (NYSE:FSLY) Given Average Rating of “Hold” by Brokerages

Fastly, Inc. (NYSE:FSLY) has been assigned an average rating of “Hold” from the ten analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $12.00.

FSLY has been the topic of a number of research reports. Wall Street Zen upgraded Fastly from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Piper Sandler reissued a “neutral” rating and issued a $14.00 target price (up previously from $11.00) on shares of Fastly in a research report on Thursday, February 12th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. KeyCorp raised shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price target for the company in a research note on Monday, December 15th. Finally, DA Davidson set a $13.00 price objective on shares of Fastly in a report on Thursday, February 12th.

Insider Buying and Selling at Fastly

In other news, CEO Charles Lacey Compton III sold 14,797 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $18.88, for a total value of $279,367.36. Following the completion of the transaction, the chief executive officer owned 584,519 shares in the company, valued at $11,035,718.72. This trade represents a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 39,881 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $18.89, for a total value of $753,352.09. Following the sale, the chief technology officer owned 1,842,532 shares in the company, valued at $34,805,429.48. The trade was a 2.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 923,524 shares of company stock worth $12,622,618. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Align Financial LLC bought a new position in shares of Fastly in the fourth quarter valued at $41,000. Byrne Asset Management LLC acquired a new stake in Fastly in the 3rd quarter valued at about $43,000. Quarry LP bought a new position in Fastly during the third quarter worth about $49,000. Geneos Wealth Management Inc. acquired a new position in Fastly during the first quarter worth approximately $52,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Fastly in the fourth quarter valued at approximately $54,000. Institutional investors own 79.71% of the company’s stock.

Fastly Price Performance

Shares of NYSE FSLY opened at $17.00 on Tuesday. The firm has a market cap of $2.54 billion, a PE ratio of -17.71 and a beta of 1.03. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly has a 1-year low of $4.65 and a 1-year high of $20.27. The company has a fifty day moving average price of $10.93 and a 200 day moving average price of $9.65.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.