Ronald W. Kisling sells 15,933 shares of Fastly, Inc. (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY – Get Your Free Report ) CFO Ronald W. Kisling sold 15,933 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $98,465.94. Following the transaction, the chief financial officer now owns 570,124 shares of the company’s stock, valued at approximately $3,523,366.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website.

Stock falls rapidly by 0.2%

Fast stock opened at $6.46 on Thursday. The company has a fifty day moving average of $7.21 and a two hundred day moving average of $10.70. The company has a quick ratio of 3.83, a current ratio of 3.83, and a debt-to-equity ratio of 0.35. The firm has a market cap of $882.68 million, a P/E ratio of -6.46 and a beta of 1.13. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87.

Fastly (NYSE:FSLY – Get Your Free Report ) last posted its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. Fastly’s revenue grew 7.8% year over year. In the same quarter last year, the company earned ($0.32) earnings per share. On average, analysts estimate that Fastly, Inc. will post -1.08 earnings per share for the current fiscal year.

Changes in Analyst Ratings

Several brokerages have issued reports on FSLY. Royal Bank of Canada decreased their price target on Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, May 2nd. Raymond James cut their price target on Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Piper Sandler downgraded shares from an “overweight” rating to a “neutral” rating and cut their price target for the company from $10.00 to $6.00 in a report on Thursday, August 8th. Citigroup cut their price target on Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, Craig Hallum cut their price target on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.93, according to data from MarketBeat.com.

Read the latest stock analysis on Fastly

Fastly’s Institutional Trading

A number of hedge funds have recently bought and sold shares of FSLY. Jennison Associates LLC purchased a new position in shares of Fastly in the first quarter worth $13,724,000. First Trust Advisors LP boosted its position in shares of Fastly by 21.8% during the fourth quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after purchasing an additional 998,749 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Fastly by 5.1% in the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after buying an additional 657,334 shares in the last quarter. Point72 Asset Management LP grew its position in shares of Fastly by 461.5% during the second quarter. Point72 Asset Management LP now owns 756,380 shares of the company’s stock worth $5,575,000 after purchasing an additional 621,680 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Fastly by 94.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after buying an additional 466,560 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s shares.

Fastly Company Profile

(Get a free report)

Fastly, Inc operates a cloud edge platform to process, serve and secure its customers’ applications in the United States, 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.

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