Ronald W. Kisling Sells 11,269 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 11,269 shares of Fastly stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total value of $90,602.76. Following the sale, the chief financial officer now directly owns 508,543 shares of the company’s stock, valued at approximately $4,088,685.72. This trade represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Fastly Stock Down 6.9 %

Fastly stock opened at $7.28 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The business’s 50-day simple moving average is $9.65 and its two-hundred day simple moving average is $8.13. The company has a market cap of $1.02 billion, a PE ratio of -6.38 and a beta of 1.26. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $14.90.

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

Institutional Trading of Fastly

A number of hedge funds have recently modified their holdings of FSLY. AlphaQuest LLC boosted its stake in shares of Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after buying an additional 2,960 shares during the last quarter. FMR LLC boosted its stake in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after buying an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Fastly in the fourth quarter worth about $72,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Fastly in the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analyst Upgrades and Downgrades

FSLY has been the subject of several recent research reports. Piper Sandler reissued a “neutral” rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Robert W. Baird boosted their target price on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum boosted their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” 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 target price on the stock in a research note on Monday, December 2nd. Finally, Citigroup boosted their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.55.

About Fastly

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.