Fastly, Inc. (NYSE:FSLY) CRO Sells $886,875.60 in Stock

Fastly, Inc. (NYSE:FSLY - Get Free Report) CRO Scott R. Lovett sold 127,608 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $6.95, for a total transaction of $886,875.60. Following the sale, the executive now directly owns 1,287,145 shares of the company's stock, valued at approximately $8,945,657.75. This trade represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Fastly Stock Up 0.1%

Shares of NYSE:FSLY traded up $0.01 during mid-day trading on Monday, hitting $6.77. 2,153,404 shares of the company traded hands, compared to its average volume of 3,102,348. The stock has a 50-day moving average price of $6.85 and a two-hundred day moving average price of $7.89. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08. The stock has a market cap of $979.52 million, a P/E ratio of -6.21 and a beta of 1.29. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.16.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The firm 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 27.73% and a negative return on equity of 12.29%. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) EPS. On average, equities research analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Royal Bank Of Canada boosted their target price on Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. KeyCorp upgraded Fastly to a "sector weight" rating in a report on Thursday, June 5th. Oppenheimer began coverage on Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating for the company. Finally, Piper Sandler upped their target price on Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $8.28.

Institutional Investors Weigh In On Fastly

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Acadian Asset Management LLC bought a new position in shares of Fastly in the first quarter valued at approximately $78,000. Geneos Wealth Management Inc. purchased a new position in Fastly in the first quarter worth $52,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Fastly by 25.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 330,878 shares of the company's stock valued at $2,094,000 after purchasing an additional 67,754 shares during the period. Caxton Associates LLP bought a new position in Fastly in the 1st quarter valued at $800,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Fastly by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company's stock valued at $14,573,000 after purchasing an additional 165,937 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company's stock.

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.