Fastly (NYSE:FSLY) Reaches New 52-Week Low – Should You Sell?

Shares of Fastly, Inc. (NYSE:FSLY) reached a new 52-week low on Friday . The stock traded as low as $5.28 and last traded at $5.18, with a volume of 742765 shares traded. The stock had previously closed at $5.94.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FSLY. Citigroup lifted their target price on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Oppenheimer initiated coverage on Fastly in a research report on Thursday, March 20th. They issued a “market perform” rating on the stock. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Finally, Royal Bank of Canada cut their price objective on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, Fastly has an average rating of “Hold” and an average price target of $8.55.

Fastly Stock Down 14.9 %

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 stock’s fifty day moving average is $7.92 and its two-hundred day moving average is $8.24. The firm has a market cap of $719.33 million, a P/E ratio of -4.43 and a beta of 1.43.

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

Insider Activity at Fastly

In other news, CEO Todd Nightingale sold 35,509 shares of Fastly stock in a transaction that occurred on Wednesday, February 19th. The shares were 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. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ronald W. Kisling sold 12,500 shares of Fastly stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $125,000.00. Following the completion of the sale, the chief financial officer now directly owns 525,850 shares of the company’s stock, valued at approximately $5,258,500. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 175,699 shares of company stock worth $1,561,990 in the last ninety days. 6.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fastly

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC boosted its holdings in Fastly by 2.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock worth $648,000 after buying an additional 1,695 shares during the period. AlphaQuest LLC lifted its holdings in shares of Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after buying an additional 2,960 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Fastly by 1.6% during the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock worth $1,814,000 after acquiring an additional 3,081 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after acquiring an additional 3,221 shares during the last quarter. Finally, Mariner LLC lifted its stake in Fastly by 18.0% in the 4th quarter. Mariner LLC now owns 22,868 shares of the company’s stock worth $216,000 after purchasing an additional 3,487 shares in the last quarter. 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.