Todd Nightingale Sells 3,188 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY - Get Free Report) CEO Todd Nightingale sold 3,188 shares of Fastly stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $7.42, for a total value of $23,654.96. Following the completion of the transaction, the chief executive officer now directly owns 1,901,200 shares of the company's stock, valued at $14,106,904. This represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Todd Nightingale also recently made the following trade(s):

• On Friday, May 23rd, Todd Nightingale sold 12,547 shares of Fastly stock. The stock was sold at an average price of $7.19, for a total transaction of $90,212.93.

Fastly Price Performance

FSLY stock traded up $0.27 during midday trading on Tuesday, reaching $7.72. 2,032,198 shares of the stock were exchanged, compared to its average volume of 3,081,574. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $12.08. The company has a fifty day moving average price of $6.42 and a 200 day moving average price of $7.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a market capitalization of $1.12 billion, a PE ratio of -6.77 and a beta of 1.47.

Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. The firm had revenue of $144.47 million for the quarter, compared to analyst estimates of $138.40 million. During the same period last year, the firm posted ($0.05) earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Fastly

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new position in shares of Fastly during the first quarter worth $38,000. AlphaQuest LLC lifted its holdings in Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock worth $44,000 after buying an additional 2,960 shares during the period. GAMMA Investing LLC grew its position in shares of Fastly by 451.7% in the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after buying an additional 5,945 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Fastly in the first quarter valued at about $52,000. Finally, Jones Financial Companies Lllp raised its position in shares of Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock worth $54,000 after acquiring an additional 3,221 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Oppenheimer started coverage on Fastly in a research report on Thursday, March 20th. They set a "market perform" rating for the company. Royal Bank of Canada raised their price objective on Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Finally, Piper Sandler boosted their target price on Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Nine analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $8.28.

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.