Fastly, Inc. (NYSE:FSLY - Get Free Report) CFO Ronald W. Kisling sold 7,449 shares of the business's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the sale, the chief financial officer now directly owns 558,564 shares in the company, valued at $4,044,003.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Fastly Price Performance
Shares of NYSE FSLY opened at $7.31 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The firm's 50 day simple moving average is $6.72 and its 200-day simple moving average is $8.19. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $25.87. The stock has a market capitalization of $998.82 million, a price-to-earnings ratio of -7.31 and a beta of 1.22.
Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The firm's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) earnings per share. Analysts expect that Fastly, Inc. will post -0.96 EPS for the current year.
Wall Street Analysts Forecast Growth
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FSLY has been the subject of a number of research reports. Raymond James cut Fastly from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 1st. Craig Hallum dropped their target price on Fastly from $10.00 to $6.00 and set a "hold" rating on the stock in a research report on Thursday, August 8th. Morgan Stanley cut their price target on shares of Fastly from $12.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 27th. Finally, Piper Sandler downgraded shares of Fastly from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $10.00 to $6.00 in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $7.81.
View Our Latest Research Report on FSLY
Hedge Funds Weigh In On Fastly
Several institutional investors and hedge funds have recently modified their holdings of FSLY. Allspring Global Investments Holdings LLC boosted its position in Fastly by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company's stock worth $133,000 after purchasing an additional 863 shares in the last quarter. EntryPoint Capital LLC grew its stake in Fastly by 41.1% in the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company's stock valued at $73,000 after acquiring an additional 1,643 shares during the period. Principal Financial Group Inc. grew its stake in Fastly by 13.4% in the 1st quarter. Principal Financial Group Inc. now owns 16,063 shares of the company's stock valued at $208,000 after acquiring an additional 1,897 shares during the period. CWM LLC increased its holdings in Fastly by 10.5% in the 2nd quarter. CWM LLC now owns 22,266 shares of the company's stock worth $164,000 after acquiring an additional 2,121 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company's stock worth $503,000 after acquiring an additional 2,128 shares during the period. Hedge funds and other institutional investors own 79.71% of the company's stock.
Fastly Company Profile
(
Get Free Report)
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.
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