Shares of Fastly, Inc. (NYSE:FSLY - Get Rating) have been assigned a consensus recommendation of "Hold" from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $12.39.
A number of brokerages recently commented on FSLY. Piper Sandler decreased their price objective on Fastly from $13.00 to $10.00 in a research note on Thursday, November 3rd. Credit Suisse Group initiated coverage on Fastly in a research note on Monday, November 21st. They issued a "neutral" rating and a $9.50 target price for the company. Citigroup decreased their target price on Fastly from $10.00 to $8.00 and set a "sell" rating for the company in a research note on Tuesday, November 8th. Finally, Morgan Stanley decreased their target price on Fastly from $12.00 to $9.00 and set an "underweight" rating for the company in a research note on Thursday, October 20th.
Insider Buying and Selling
In related news, CFO Ronald W. Kisling sold 5,894 shares of the company's stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $10.39, for a total transaction of $61,238.66. Following the sale, the chief financial officer now owns 371,688 shares in the company, valued at $3,861,838.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fastly news, Director David Hornik sold 396,542 shares of the company's stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $9.92, for a total value of $3,933,696.64. Following the sale, the director now owns 197,178 shares in the company, valued at $1,956,005.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ronald W. Kisling sold 5,894 shares of the company's stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $10.39, for a total value of $61,238.66. Following the completion of the sale, the chief financial officer now owns 371,688 shares in the company, valued at approximately $3,861,838.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 511,393 shares of company stock worth $5,113,437. Corporate insiders own 8.90% of the company's stock.
Institutional Trading of Fastly
Several institutional investors and hedge funds have recently bought and sold shares of FSLY. Legal & General Group Plc raised its stake in Fastly by 114.8% in the second quarter. Legal & General Group Plc now owns 7,466,124 shares of the company's stock valued at $86,682,000 after buying an additional 3,989,496 shares during the period. First Trust Advisors LP grew its position in shares of Fastly by 65.3% in the first quarter. First Trust Advisors LP now owns 7,846,587 shares of the company's stock valued at $136,374,000 after purchasing an additional 3,099,852 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Fastly in the first quarter valued at approximately $21,322,000. Great West Life Assurance Co. Can acquired a new position in shares of Fastly in the third quarter valued at approximately $7,855,000. Finally, Vanguard Group Inc. grew its position in shares of Fastly by 5.6% in the third quarter. Vanguard Group Inc. now owns 10,899,919 shares of the company's stock valued at $99,843,000 after purchasing an additional 582,897 shares during the last quarter. Institutional investors own 60.74% of the company's stock.
Fastly Stock Down 2.9 %
NYSE FSLY opened at $9.95 on Thursday. The stock has a fifty day moving average of $9.04 and a 200-day moving average of $9.52. The stock has a market capitalization of $1.22 billion, a P/E ratio of -5.89 and a beta of 1.30. Fastly has a 52 week low of $7.15 and a 52 week high of $29.99. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.41 and a current ratio of 4.41.
Fastly (NYSE:FSLY - Get Rating) last released its earnings results on Wednesday, November 2nd. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.03. The company had revenue of $108.50 million during the quarter, compared to analysts' expectations of $103.26 million. Fastly had a negative return on equity of 22.82% and a negative net margin of 49.05%. On average, equities research analysts forecast that Fastly will post -1.89 EPS for the current year.
Fastly Company Profile
Fastly, Inc provides real-time content delivery network services. It offers edge compute, edge delivery, edge security, edge applications like load balancing and image optimization, video on demand, and managed edge delivery. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.
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