Fastly, Inc. (NYSE:FSLY) Given Consensus Recommendation of “Hold” by Analysts

Fastly, Inc. (NYSE:FSLY) has received an average rating of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $22.6250.

Several equities research analysts have recently weighed in on the stock. Evercore assumed coverage on shares of Fastly in a report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 target price on the stock. Citigroup upped their target price on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. KeyCorp upped their price target on shares of Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Royal Bank Of Canada reduced their price target on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. Finally, Piper Sandler reduced their price target on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th.

Insider Buying and Selling

In related news, CTO Artur Bergman sold 32,181 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $16.85, for a total transaction of $542,249.85. Following the transaction, the chief technology officer owned 2,086,529 shares in the company, valued at $35,158,013.65. This represents a 1.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Lacey Compton III sold 34,334 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $578,527.90. Following the transaction, the chief executive officer owned 1,099,561 shares in the company, valued at approximately $18,527,602.85. This trade represents a 3.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 304,062 shares of company stock worth $5,482,012 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Amundi lifted its position in Fastly by 11.3% during the 1st quarter. Amundi now owns 46,624 shares of the company’s stock worth $277,000 after buying an additional 4,724 shares in the last quarter. AQR Capital Management LLC acquired a new position in Fastly during the 1st quarter worth about $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Fastly by 1.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock worth $2,950,000 after buying an additional 6,247 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Fastly by 963.6% during the 1st quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock worth $385,000 after buying an additional 55,118 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Fastly by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock worth $14,573,000 after buying an additional 165,937 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Price Performance

FSLY opened at $17.11 on Monday. The firm’s 50-day simple moving average is $20.13 and its 200-day simple moving average is $17.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Fastly has a twelve month low of $6.29 and a twelve month high of $34.82. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -17.82 and a beta of 0.37.

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.