Fastly (NYSE:FSLY) Director Sells $138,867.28 in Stock

Key Points

• Fastly Director Richard Devon Daniels sold 18,248 shares at an average price of $7.61, totaling $138,867.28, resulting in a 21.24% decrease in his position.
• Despite the insider sale, Fastly recently reported a 12.3% year-over-year increase in revenue, amounting to $148.71 million, along with an EPS of ($0.03) which exceeded analysts' estimates.
• Analysts have set a new average target price of $8.69 for Fastly, with varying ratings from "buy" to "hold" across several brokerages.

Fastly, Inc. (NYSE:FSLY - Get Free Report) Director Richard Devon Daniels sold 18,248 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $7.61, for a total value of $138,867.28. Following the sale, the director owned 67,652 shares of the company's stock, valued at approximately $514,831.72. The trade was a 21.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Fastly Trading Up 1.0%

Shares of Fastly stock traded up $0.08 during trading hours on Monday, hitting $7.51. The company's stock had a trading volume of 1,613,226 shares, compared to its average volume of 2,345,618. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $12.08. The stock has a 50 day moving average of $7.09 and a 200 day moving average of $6.84. The company has a market capitalization of $1.11 billion, a PE ratio of -7.29 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Fastly had a negative return on equity of 11.98% and a negative net margin of 25.85%.The firm had revenue of $148.71 million during the quarter, compared to analysts' expectations of $144.86 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. The business's quarterly revenue was up 12.3% compared to the same quarter last year. Analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current year.

Hedge Funds Weigh In On Fastly

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mariner LLC raised its position in shares of Fastly by 18.0% in the fourth quarter. Mariner LLC now owns 22,868 shares of the company's stock worth $216,000 after buying an additional 3,487 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Fastly by 28.3% during the fourth quarter. Northern Trust Corp now owns 1,577,729 shares of the company's stock valued at $14,894,000 after purchasing an additional 348,451 shares during the last quarter. Deutsche Bank AG raised its holdings in Fastly by 16.6% in the 4th quarter. Deutsche Bank AG now owns 255,409 shares of the company's stock worth $2,411,000 after acquiring an additional 36,333 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Fastly by 6.1% during the 1st quarter. Hsbc Holdings PLC now owns 27,938 shares of the company's stock valued at $175,000 after acquiring an additional 1,612 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Fastly in the 1st quarter worth $91,000. Hedge funds and other institutional investors own 79.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FSLY shares. Craig Hallum raised Fastly from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a report on Thursday, August 7th. KeyCorp raised Fastly to a "sector weight" rating in a report on Thursday, June 5th. Finally, Royal Bank Of Canada raised their price objective on Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $8.69.

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.