Fastly, Inc. (NYSE:FSLY) CRO Scott R. Lovett Sells 127,608 Shares

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

Fastly Stock Performance

Shares of NYSE FSLY traded down $0.04 during midday trading on Friday, reaching $6.77. The company's stock had a trading volume of 11,852,448 shares, compared to its average volume of 3,135,489. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $6.83 and a 200 day moving average price of $7.94. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The business had revenue of $144.47 million for the quarter, compared to the consensus estimate of $138.40 million. During the same period in the previous year, the firm earned ($0.05) EPS. The business's revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Fastly by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 15,590,433 shares of the company's stock worth $98,687,000 after purchasing an additional 300,572 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Fastly by 2.4% during the fourth quarter. Legal & General Group Plc now owns 8,025,959 shares of the company's stock valued at $75,765,000 after acquiring an additional 189,667 shares during the period. Penserra Capital Management LLC raised its holdings in shares of Fastly by 83.1% during the first quarter. Penserra Capital Management LLC now owns 7,177,688 shares of the company's stock valued at $45,434,000 after acquiring an additional 3,256,629 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Fastly during the fourth quarter valued at approximately $35,334,000. Finally, First Trust Advisors LP raised its holdings in shares of Fastly by 4.9% during the fourth quarter. First Trust Advisors LP now owns 3,139,255 shares of the company's stock valued at $29,635,000 after acquiring an additional 147,458 shares during the period. 79.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Oppenheimer assumed coverage on shares of Fastly in a report on Thursday, March 20th. They issued a "market perform" rating for the company. Royal Bank Of Canada lifted their price target on shares of Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. KeyCorp raised shares of Fastly to a "sector weight" rating in a report on Thursday, June 5th. Finally, Morgan Stanley lifted their price objective on shares of Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Fastly presently has an average rating of "Hold" and an average 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.

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