Fastly, Inc. (NYSE:FSLY) CFO Sells $88,920.00 in Stock

Fastly, Inc. (NYSE:FSLY - Get Free Report) CFO Ronald W. Kisling sold 12,000 shares of Fastly stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $7.41, for a total transaction of $88,920.00. Following the sale, the chief financial officer now owns 635,053 shares of the company's stock, valued at $4,705,742.73. The trade was a 1.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fastly Price Performance

FSLY stock traded up $0.17 during trading on Friday, hitting $7.71. The stock had a trading volume of 551,249 shares, compared to its average volume of 3,066,224. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -6.73 and a beta of 1.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The company's 50 day moving average price is $6.47 and its two-hundred day moving average price is $7.97. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $12.08.

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

Analysts Set New Price Targets

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

Institutional Trading of Fastly

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC raised its position in shares of Fastly by 169.1% in 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. Jones Financial Companies Lllp raised its holdings in shares of Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock worth $54,000 after purchasing an additional 3,221 shares during the period. Banque Transatlantique SA acquired a new position in shares of Fastly in the 1st quarter valued at about $38,000. GAMMA Investing LLC lifted its stake 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 purchasing an additional 5,945 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Fastly during the 4th quarter worth about $72,000. Hedge funds and other institutional investors own 79.71% of the company's stock.

Fastly Company Profile

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.