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

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 35,509 shares of the firm’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 $285,492.36. Following the sale, the chief executive officer now owns 1,553,301 shares of the company’s stock, valued at approximately $12,488,540.04. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, November 25th, Todd Nightingale sold 12,163 shares of Fastly stock. The shares were sold at an average price of $8.12, for a total transaction of $98,763.56.

Fastly Stock Performance

FSLY opened at $7.28 on Friday. The company’s 50 day moving average is $9.65 and its 200 day moving average is $8.13. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -6.38 and a beta of 1.26. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $14.90.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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, equities research analysts predict that Fastly, Inc. will post -0.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Craig Hallum upped their price objective on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Citigroup increased their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Monday, December 2nd. Robert W. Baird upped their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reduced their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.55.

Institutional Trading of Fastly

Several hedge funds have recently bought and sold shares of FSLY. Alyeska Investment Group L.P. bought a new position in shares of Fastly in the fourth quarter worth about $35,334,000. Bank of Montreal Can increased its holdings in Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after acquiring an additional 1,293,490 shares in the last quarter. Marshall Wace LLP bought a new stake in Fastly during the 4th quarter worth approximately $7,618,000. Penserra Capital Management LLC lifted its holdings in Fastly by 18.8% during the third 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 in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Fastly in the fourth quarter worth approximately $7,088,000. Institutional investors 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.