Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale Sells 35,509 Shares

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 35,509 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total value of $285,492.36. Following the completion of the transaction, the chief executive officer now directly owns 1,553,301 shares of the company’s stock, valued at $12,488,540.04. This represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Todd Nightingale also recently made the following trade(s):

• On Monday, November 25th, Todd Nightingale sold 12,163 shares of Fastly stock. The shares were sold at an average price of $8.12, for a total value of $98,763.56.

Fastly Stock Down 6.9 %

Shares of Fastly stock opened at $7.28 on Friday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The business’s 50 day simple moving average is $9.65 and its 200-day simple moving average is $8.12. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.38 and a beta of 1.26. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $14.90.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada reduced their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Citigroup upped their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Robert W. Baird upped their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Monday, December 2nd. Finally, Craig Hallum upped their price objective on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.55.

Institutional Trading of Fastly

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Fastly by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 15,289,861 shares of the company’s stock valued at $144,336,000 after purchasing an additional 103,440 shares in the last quarter. Legal & General Group Plc lifted its holdings in Fastly by 2.4% in the fourth quarter. Legal & General Group Plc now owns 8,025,959 shares of the company’s stock worth $75,765,000 after purchasing an additional 189,667 shares during the period. Penserra Capital Management LLC lifted its holdings in Fastly by 18.8% in 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 during the period. Alyeska Investment Group L.P. acquired a new stake in Fastly in the fourth quarter worth about $35,334,000. Finally, First Trust Advisors LP lifted its holdings in Fastly by 4.9% in the fourth quarter. First Trust Advisors LP now owns 3,139,255 shares of the company’s stock worth $29,635,000 after purchasing an additional 147,458 shares during the period. 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.