Fastly (NYSE:FSLY) Stock Price Down 4.5% – Should You Sell?

Fastly, Inc. (NYSE:FSLY)’s stock price dropped 4.5% on Thursday . The stock traded as low as $9.93 and last traded at $10.05. Approximately 977,020 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,591,485 shares. The stock had previously closed at $10.52.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. DA Davidson boosted their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum boosted 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. Morgan Stanley reduced their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Robert W. Baird boosted their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.55.

Fastly Stock Down 4.4 %

The stock has a market cap of $1.41 billion, a P/E ratio of -9.23 and a beta of 1.27. The company’s fifty day moving average price is $8.18 and its 200-day moving average price is $7.45. 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 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. Fastly’s revenue was up 7.3% on a year-over-year basis. Equities analysts forecast that Fastly, Inc. will post -0.86 EPS for the current year.

Insider Buying and Selling at Fastly

In related news, CEO Todd Nightingale sold 49,816 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $311,350.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,973 shares of the company’s stock, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Artur Bergman sold 16,922 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $105,762.50. Following the transaction, the chief technology officer now owns 6,138,900 shares in the company, valued at approximately $38,368,125. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,241 shares of company stock valued at $1,699,684. 6.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new stake in shares of Fastly in the second quarter valued at about $38,000. FMR LLC grew its holdings in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares during the last quarter. EMC Capital Management raised its stake in Fastly by 400.0% in the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after purchasing an additional 6,000 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Fastly by 95.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after acquiring an additional 4,318 shares during the period. Finally, Aigen Investment Management LP acquired a new position in Fastly in the third quarter valued at $89,000. 79.71% of the stock is owned by institutional investors and hedge funds.

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.