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

Shares of Fastly, Inc. (NYSE:FSLY) have been given an average rating of “Hold” by the thirteen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.1111.

FSLY has been the topic of a number of research analyst reports. Piper Sandler dropped their price target on Fastly to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Canaccord Genuity Group assumed coverage on Fastly in a report on Friday, July 17th. They set a “buy” rating and a $27.00 price objective on the stock. KeyCorp boosted their price objective on Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Royal Bank Of Canada lowered their target price on Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Finally, Evercore assumed coverage on shares of Fastly in a report on Tuesday, April 14th. They set an “outperform” rating and a $24.00 target price on the stock.

Insider Activity at Fastly

In related news, CEO Charles Lacey Compton III sold 9,313 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $20.79, for a total value of $193,617.27. Following the completion of the transaction, the chief executive officer directly owned 1,063,945 shares of the company’s stock, valued at approximately $22,119,416.55. This represents a 0.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Artur Bergman sold 7,889 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.96, for a total transaction of $165,353.44. Following the completion of the transaction, the chief technology officer directly owned 2,038,638 shares of the company’s stock, valued at approximately $42,729,852.48. The trade was a 0.39% decrease in their ownership of the stock. 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 sold 274,529 shares of company stock worth $4,761,780 over the last three months. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Fastly

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Fastly by 39.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock valued at $64,000 after buying an additional 627 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Fastly by 84.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after buying an additional 633 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in shares of Fastly by 8.4% during the 4th quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock worth $122,000 after acquiring an additional 930 shares during the period. Parallax Volatility Advisers L.P. boosted its stake in shares of Fastly by 13.8% during the 3rd quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock worth $103,000 after acquiring an additional 1,465 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in shares of Fastly during the 1st quarter worth approximately $44,000. 79.71% of the stock is currently owned by institutional investors.

Fastly Stock Performance

FSLY stock opened at $19.43 on Friday. The business’s 50-day moving average price is $18.43 and its two-hundred day moving average price is $19.10. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.04 billion, a PE ratio of -20.24 and a beta of 0.34. Fastly has a 1-year low of $6.29 and a 1-year high of $34.82.

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.