Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 1,192 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 1,192 shares of Fastly stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $9.22, for a total value of $10,990.24. Following the completion of the sale, the chief financial officer now owns 538,350 shares of the company’s stock, valued at $4,963,587. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Fastly Stock Up 4.5 %

Fastly stock opened at $9.81 on Thursday. The stock has a 50-day moving average of $7.53 and a two-hundred day moving average of $7.28. 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, Inc. has a one year low of $5.52 and a one year high of $25.87.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. During the same period last year, the business posted ($0.33) earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Piper Sandler boosted their price objective on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley dropped their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. Robert W. Baird raised their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Craig Hallum raised 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. One 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 stock. According to MarketBeat.com, Fastly presently has an average rating of “Hold” and a consensus target price of $8.55.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of Fastly in the second quarter worth about $38,000. FMR LLC raised its stake in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares during the last quarter. EMC Capital Management raised its stake in shares of Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after purchasing an additional 6,000 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Fastly by 95.3% during the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after acquiring an additional 4,318 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in Fastly during the third quarter valued at approximately $89,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

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.