Fastly, Inc. (NYSE:FSLY - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $12.53, but opened at $13.45. Fastly shares last traded at $13.29, with a volume of 1,469,623 shares.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on FSLY. Craig Hallum cut shares of Fastly from a "buy" rating to a "hold" rating and set a $20.00 price objective on the stock. in a research note on Thursday, February 15th. Royal Bank of Canada raised shares of Fastly from an "underperform" rating to a "sector perform" rating and upped their price target for the company from $12.00 to $18.00 in a research report on Monday, January 8th. Piper Sandler raised shares of Fastly from a "neutral" rating to an "overweight" rating and cut their price target for the company from $19.00 to $16.00 in a research report on Monday. Citigroup raised shares of Fastly from a "sell" rating to a "neutral" rating and upped their price target for the company from $11.00 to $20.00 in a research report on Monday, January 22nd. Finally, Bank of America cut their price target on shares of Fastly from $28.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Fastly has an average rating of "Moderate Buy" and a consensus target price of $19.11.
Check Out Our Latest Stock Report on FSLY
Fastly Stock Up 7.7 %
The firm's fifty day moving average price is $15.87 and its two-hundred day moving average price is $16.81. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -12.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14.
Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. The firm had revenue of $137.78 million for the quarter, compared to analyst estimates of $139.25 million. Sell-side analysts forecast that Fastly, Inc. will post -1.07 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Ronald W. Kisling sold 12,000 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $12.92, for a total value of $155,040.00. Following the sale, the chief financial officer now owns 640,222 shares in the company, valued at approximately $8,271,668.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastly news, insider Artur Bergman sold 74,375 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $20.25, for a total value of $1,506,093.75. Following the completion of the sale, the insider now owns 6,101,869 shares in the company, valued at approximately $123,562,847.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $12.92, for a total transaction of $155,040.00. Following the completion of the sale, the chief financial officer now owns 640,222 shares of the company's stock, valued at approximately $8,271,668.24. The disclosure for this sale can be found here. Insiders have sold 311,195 shares of company stock worth $5,434,420 in the last quarter. Insiders own 7.60% of the company's stock.
Institutional Investors Weigh In On Fastly
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in shares of Fastly during the 2nd quarter valued at approximately $29,000. Meeder Asset Management Inc. grew its position in shares of Fastly by 13,926.9% during the 4th quarter. Meeder Asset Management Inc. now owns 3,647 shares of the company's stock valued at $30,000 after acquiring an additional 3,621 shares during the period. Hanseatic Management Services Inc. bought a new position in shares of Fastly during the 3rd quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastly during the 3rd quarter valued at approximately $36,000. Finally, MetLife Investment Management LLC bought a new position in shares of Fastly during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 79.71% of the company's stock.
About Fastly
(
Get Free Report)
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.
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