Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 12,000 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $7.27, for a total value of $87,240.00. Following the transaction, the chief financial officer now owns 593,506 shares of the company’s stock, valued at $4,314,788.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fastly Trading Up 3.2 %

Shares of FSLY stock opened at $7.40 on Thursday. The stock’s fifty day moving average is $8.51 and its 200-day moving average is $13.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.83 and a current ratio of 3.83. Fastly, Inc. has a 52 week low of $6.77 and a 52 week high of $25.87.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The firm had revenue of $133.52 million for the quarter, compared to analyst estimates of $133.01 million. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. As a group, sell-side analysts forecast that Fastly, Inc. will post -1.08 EPS for the current year.

Analyst Upgrades and Downgrades

FSLY has been the topic of several research analyst reports. DA Davidson lowered shares of Fastly from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $24.00 to $8.50 in a research report on Thursday, May 2nd. Bank of America lowered Fastly from a “buy” rating to an “underperform” rating and lowered their price target for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd. Piper Sandler upgraded Fastly from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $19.00 to $16.00 in a research report on Monday, April 8th. Royal Bank of Canada decreased their price objective on Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. Finally, Citigroup reduced their target price on Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Fastly has an average rating of “Hold” and a consensus price target of $14.44.

Institutional Investors Weigh In On Fastly

Several institutional investors have recently modified their holdings of FSLY. Vanguard Group Inc. grew its holdings in Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after acquiring an additional 657,334 shares during the period. Legal & General Group Plc increased its holdings in Fastly by 13.3% in the third quarter. Legal & General Group Plc now owns 6,627,895 shares of the company’s stock valued at $127,057,000 after purchasing an additional 778,677 shares during the last quarter. First Trust Advisors LP increased its holdings in Fastly by 21.8% in the fourth quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock valued at $99,443,000 after purchasing an additional 998,749 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Fastly by 9.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock valued at $33,942,000 after buying an additional 162,659 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Fastly by 14.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,325,751 shares of the company’s stock worth $23,598,000 after buying an additional 166,184 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.