Fastly (NYSE:FSLY) Trading Up 9.2% - Still a Buy?

Key Points

• Shares of Fastly jumped 9.2% mid-day to about $24.84 on Wednesday, trading roughly 5.36M shares (down ~52% versus the 11.19M average) and sitting well above its 50‑day ($13.07) and 200‑day ($10.65) moving averages.
• Analysts carry a consensus Hold rating with a consensus price target of $13.14 (3 Buys, 6 Holds, 1 Sell), even as several firms have recently adjusted targets upward into the low‑teens.
• Insiders have sold a total of 1,393,702 shares (~$23.0M) over the last three months (insiders own 6.70%), while institutional investors hold about 79.7% of the stock and some funds have been increasing positions.

Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) were up 9.2% during mid-day trading on Wednesday . The company traded as high as $25.10 and last traded at $24.8390. Approximately 5,363,740 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 11,190,123 shares. The stock had previously closed at $22.74.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FSLY. DA Davidson set a $13.00 target price on Fastly in a research note on Thursday, February 12th. Piper Sandler reaffirmed a "neutral" rating and set a $14.00 price objective (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Citigroup boosted their target price on shares of Fastly from $10.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, February 13th. Wall Street Zen upgraded shares of Fastly from a "hold" rating to a "buy" rating in a report on Saturday, November 15th. Finally, KeyCorp raised Fastly from a "sector weight" rating to an "overweight" rating and set a $14.00 price objective on the stock in a report on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $13.14.

Fastly Trading Up 7.5%

The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.71 billion, a P/E ratio of -25.49 and a beta of 0.88. The business's fifty day simple moving average is $13.07 and its two-hundred day simple moving average is $10.65.

Insider Buying and Selling

In other news, insider Scott R. Lovett sold 73,715 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $21.06, for a total transaction of $1,552,437.90. Following the sale, the insider directly owned 1,580,513 shares in the company, valued at approximately $33,285,603.78. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Lacey Compton III sold 36,694 shares of the company's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $20.69, for a total value of $759,198.86. Following the completion of the transaction, the chief executive officer owned 1,212,778 shares of the company's stock, valued at $25,092,376.82. The trade was a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,393,702 shares of company stock valued at $23,034,502 over the last three months. 6.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fastly

Several institutional investors and hedge funds have recently bought and sold shares of FSLY. Amundi boosted its position in shares of Fastly by 11.3% during the 1st quarter. Amundi now owns 46,624 shares of the company's stock valued at $277,000 after acquiring an additional 4,724 shares in the last quarter. AQR Capital Management LLC bought a new stake in Fastly during the first quarter worth about $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Fastly by 1.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company's stock worth $2,950,000 after buying an additional 6,247 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Fastly by 963.6% in the first quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company's stock valued at $385,000 after acquiring an additional 55,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Fastly by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company's stock worth $14,573,000 after acquiring an additional 165,937 shares in the last quarter. Institutional investors own 79.71% of the company's stock.

Fastly Company Profile

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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