Shares of Fastly, Inc. (NYSE:FSLY – Get Free Report) have been given an average rating of “Hold” by the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $23.1111.
A number of research analysts have issued reports on the company. Piper Sandler reduced their price objective on Fastly to $27.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Evercore assumed coverage on Fastly in a research report on Tuesday, April 14th. They set an “outperform” rating and a $24.00 price target on the stock. Citigroup increased their target price on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research note on Tuesday, April 14th. Finally, Freedom Capital upgraded Fastly to a “strong-buy” rating in a research note on Thursday, July 16th.
Read Our Latest Report on Fastly
Fastly Stock Up 3.8%
Insiders Place Their Bets
In other Fastly news, CFO Richard Wong sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $16.48, for a total value of $41,200.00. Following the transaction, the chief financial officer directly owned 1,239,301 shares in the company, valued at $20,423,680.48. This represents a 0.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Lacey Compton III sold 9,313 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $20.79, for a total transaction of $193,617.27. Following the completion of the transaction, the chief executive officer directly owned 1,063,945 shares of the company’s stock, valued at approximately $22,119,416.55. This represents a 0.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 274,529 shares of company stock worth $4,761,780. 4.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Fastly
Large investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. increased its holdings in shares of Fastly by 2,795.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after buying an additional 4,623,767 shares during the period. First Trust Advisors LP raised its stake in shares of Fastly by 100.5% during the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock valued at $204,349,000 after acquiring an additional 3,524,763 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Fastly by 3,941.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock worth $9,383,000 after purchasing an additional 1,296,119 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in Fastly during the 4th quarter valued at approximately $11,657,000. Finally, Morgan Stanley grew its position in shares of Fastly by 14.7% in the 4th quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after buying an additional 1,071,222 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.
Fastly Company Profile
Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.
Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.
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