Fastly (NYSE:FSLY) Insider Sells $354,666.52 in Stock

Key Points

• Fastly insider Scott Lovett sold 42,172 shares of the company's stock on September 17th for $354,666, representing a 3.73% reduction in his holdings.
• Fastly's stock price fell by 3.8% to $8.61, with a notable increase in trading volume to 14,507,855 shares compared to its average volume of 2,970,447.
• Fastly's recent quarterly earnings showed a revenue increase of 12.3% year-over-year, totaling $148.71 million, and the company’s EPS was better than expected at ($0.03).

Fastly, Inc. (NYSE:FSLY - Get Free Report) insider Scott R. Lovett sold 42,172 shares of Fastly stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $8.41, for a total transaction of $354,666.52. Following the sale, the insider directly owned 1,088,551 shares in the company, valued at approximately $9,154,713.91. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Fastly Trading Up 1.4%

Fastly stock traded up $0.13 during mid-day trading on Monday, hitting $8.76. The company's stock had a trading volume of 2,342,840 shares, compared to its average volume of 3,462,527. The stock's fifty day moving average is $7.35 and its two-hundred day moving average is $6.94. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.29 billion, a PE ratio of -8.50 and a beta of 1.24. Fastly, Inc. has a 1 year low of $4.65 and a 1 year high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last announced 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. The business had revenue of $148.71 million for the quarter, compared to analyst estimates of $144.86 million. Fastly had a negative return on equity of 11.98% and a negative net margin of 25.85%.The company's quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) EPS. On average, analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Craig Hallum upgraded 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. Finally, KeyCorp raised Fastly to a "sector weight" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Fastly presently has an average rating of "Hold" and an average target price of $8.69.

Institutional Trading of Fastly

A number of institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC lifted its position in Fastly by 83.1% in 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 last quarter. Marshall Wace LLP increased its position in shares of Fastly by 115.2% during the second quarter. Marshall Wace LLP now owns 3,385,167 shares of the company's stock worth $23,899,000 after purchasing an additional 1,811,935 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Fastly by 3,941.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company's stock valued at $9,383,000 after purchasing an additional 1,296,119 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Fastly in the 2nd quarter valued at about $6,697,000. Finally, Two Sigma Investments LP grew its stake in Fastly by 179.3% during the 4th quarter. Two Sigma Investments LP now owns 1,101,329 shares of the company's stock worth $10,397,000 after buying an additional 707,053 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

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.