Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 12,000 Shares

Fastly, Inc. (NYSE:FSLY - Get Free Report) CFO Ronald W. Kisling sold 12,000 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $6.32, for a total value of $75,840.00. Following the completion of the sale, the chief financial officer now directly owns 671,035 shares of the company's stock, valued at $4,240,941.20. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fastly Stock Performance

Shares of Fastly stock traded down $0.05 on Monday, reaching $5.12. 5,158,947 shares of the company traded hands, compared to its average volume of 3,350,528. The company has a 50 day moving average of $7.72 and a 200 day moving average of $8.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly, Inc. has a 52 week low of $4.67 and a 52 week high of $14.12. The firm has a market capitalization of $727.86 million, a PE ratio of -4.49 and a beta of 1.43.

Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Equities analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Fastly in the third quarter worth about $328,000. Charles Schwab Investment Management Inc. grew its stake in Fastly by 18.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company's stock valued at $8,006,000 after buying an additional 161,070 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Fastly by 5.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 71,876 shares of the company's stock valued at $544,000 after buying an additional 3,575 shares in the last quarter. FMR LLC raised its holdings in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company's stock valued at $48,000 after acquiring an additional 3,522 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Fastly by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,524 shares of the company's stock worth $269,000 after acquiring an additional 5,394 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FSLY. Piper Sandler reiterated a "neutral" rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Citigroup increased their price objective on Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Royal Bank of Canada dropped their target price on Fastly from $10.00 to $8.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Finally, Oppenheimer assumed coverage on Fastly in a report on Thursday, March 20th. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, Fastly presently has an average rating of "Hold" and an average target price of $8.55.

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.