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

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 35,509 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the completion of the sale, the chief executive officer now directly owns 1,553,301 shares in the company, valued at $12,488,540.04. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $8.12, for a total value of $98,763.56.

Fastly Price Performance

FSLY stock traded down $0.54 during trading hours on Friday, hitting $7.28. 4,194,535 shares of the stock traded hands, compared to its average volume of 3,175,301. The stock has a 50-day simple moving average of $9.72 and a 200 day simple moving average of $8.12. Fastly, Inc. has a one year low of $5.52 and a one year high of $14.90. The company has a market cap of $1.02 billion, a P/E ratio of -6.38 and a beta of 1.26. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last released 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 net margin of 29.07% and a negative return on equity of 12.75%. Equities analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Hedge Funds Weigh In On Fastly

A number of hedge funds and other institutional investors have recently modified their holdings of FSLY. Alyeska Investment Group L.P. acquired a new position in shares of Fastly in the 4th quarter valued at $35,334,000. Bank of Montreal Can boosted its position in shares of Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares during the period. Marshall Wace LLP acquired a new position in shares of Fastly in the 4th quarter valued at $7,618,000. Penserra Capital Management LLC boosted its position in shares of Fastly by 18.8% in the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after purchasing an additional 801,968 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Fastly in the 4th quarter valued at $7,088,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

FSLY has been the topic of several analyst reports. Citigroup increased their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Royal Bank of Canada lowered their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Craig Hallum raised their price target on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. DA Davidson raised their price target on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised their price target on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Fastly currently has an average rating of “Hold” and an average price target of $8.55.

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.