Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) were up 8.4% during mid-day trading on Monday . The stock traded as high as $25.61 and last traded at $25.7650. Approximately 3,993,883 shares traded hands during trading, a decline of 67% from the average daily volume of 12,043,557 shares. The stock had previously closed at $23.76.
Analysts Set New Price Targets
FSLY has been the subject of a number of recent research reports. Craig Hallum downgraded Fastly from a "buy" rating to a "hold" rating and set a $24.00 price objective for the company. in a report on Tuesday, April 14th. Evercore started coverage on Fastly in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $24.00 price target on the stock. Citigroup raised their price objective on Fastly from $10.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, February 13th. Royal Bank Of Canada upped their target price on Fastly from $12.00 to $20.00 and gave the company a "sector perform" rating in a report on Monday, March 2nd. Finally, William Blair raised shares of Fastly from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.25.
Read Our Latest Stock Report on Fastly
Fastly Stock Up 8.6%
The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock's 50-day simple moving average is $24.32 and its 200 day simple moving average is $15.01. The firm has a market cap of $4.03 billion, a P/E ratio of -26.87 and a beta of 0.62.
Insiders Place Their Bets
In related news, CEO Charles Lacey Compton III sold 73,206 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $20.94, for a total transaction of $1,532,933.64. Following the transaction, the chief executive officer owned 875,831 shares in the company, valued at $18,339,901.14. The trade was a 7.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 275,234 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $20.56, for a total transaction of $5,658,811.04. Following the transaction, the chief technology officer directly owned 1,909,901 shares in the company, valued at approximately $39,267,564.56. This represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,443,873 shares of company stock worth $28,880,951. Corporate insiders own 6.70% of the company's stock.
Hedge Funds Weigh In On Fastly
Institutional investors have recently made changes to their positions in the stock. Baer Investment Advisory LLC bought a new position in shares of Fastly during the 1st quarter worth about $352,000. Sound Income Strategies LLC acquired a new position in Fastly during the 1st quarter worth approximately $44,000. Strs Ohio raised its stake in Fastly by 41.1% during the 1st quarter. Strs Ohio now owns 34,700 shares of the company's stock worth $1,008,000 after buying an additional 10,100 shares during the period. Cane Capital Partners LLC bought a new position in Fastly in the first quarter worth approximately $218,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Fastly in the first quarter valued at approximately $1,023,000. Institutional investors and hedge funds own 79.71% of the company's stock.
About Fastly
(
Get Free Report)
Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly's real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.
Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.
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