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 the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $90,602.76. Following the transaction, the chief financial officer now owns 508,543 shares in the company, valued at $4,088,685.72. This represents a 2.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Fastly Stock Down 6.9 %

Shares of NYSE:FSLY traded down $0.54 during midday trading on Friday, hitting $7.28. 4,194,535 shares of the company’s stock were exchanged, compared to its average volume of 3,175,301. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $14.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a 50 day moving average price of $9.72 and a 200-day moving average price of $8.12. The company has a market cap of $1.02 billion, a PE ratio of -6.38 and a beta of 1.26.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

FSLY has been the topic of several research reports. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down previously from $10.00) on shares of Fastly in a report on Thursday, February 13th. Robert W. Baird upped their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Monday, December 2nd. DA Davidson upped their price objective on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada decreased their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fastly currently has an average rating of “Hold” and an average target price of $8.55.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently added to or reduced their stakes in FSLY. Blue Trust Inc. grew its position in Fastly by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after purchasing an additional 2,296 shares in the last quarter. International Assets Investment Management LLC grew its position in Fastly by 308.0% in the 3rd quarter. International Assets Investment Management LLC now owns 76,101 shares of the company’s stock worth $5,760,000 after purchasing an additional 57,448 shares in the last quarter. Entropy Technologies LP grew its position in Fastly by 118.7% in the 3rd quarter. Entropy Technologies LP now owns 39,803 shares of the company’s stock worth $301,000 after purchasing an additional 21,600 shares in the last quarter. Aigen Investment Management LP bought a new stake in Fastly in the 3rd quarter worth about $89,000. Finally, Intech Investment Management LLC bought a new stake in Fastly in the 3rd quarter worth about $328,000. 79.71% of the stock is owned by institutional investors.

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.