Insider Selling: Fastly, Inc. (NYSE:FSLY) CEO Sells $98,763.56 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 12,163 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.12, for a total transaction of $98,763.56. Following the sale, the chief executive officer now directly owns 1,588,810 shares of the company’s stock, valued at approximately $12,901,137.20. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, November 18th, Todd Nightingale sold 49,816 shares of Fastly stock. The stock was sold at an average price of $6.25, for a total transaction of $311,350.00.

Fastly Stock Performance

FSLY traded down $0.03 during trading hours on Wednesday, reaching $7.92. The company’s stock had a trading volume of 1,606,142 shares, compared to its average volume of 3,524,477. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87. The firm has a market cap of $1.11 billion, a PE ratio of -7.28 and a beta of 1.24. The company’s 50-day moving average is $7.33 and its 200-day moving average is $7.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. The company had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.33) earnings per share. On average, equities analysts forecast that Fastly, Inc. will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Fastly

Large investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in shares of Fastly during the 2nd quarter worth $38,000. Cambridge Trust Co. acquired a new stake in Fastly during the 1st quarter worth approximately $39,000. FMR LLC raised its stake in shares of Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Fastly by 400.0% during the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after purchasing an additional 6,000 shares during the period. Finally, Cape Investment Advisory Inc. grew its position in shares of Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after buying an additional 4,150 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analyst Ratings Changes

FSLY has been the subject of several analyst reports. Piper Sandler lifted their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley cut their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. Craig Hallum increased their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Finally, DA Davidson increased their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, Fastly currently has a consensus rating of “Hold” and a consensus target price of $7.94.

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.