Fastly, Inc. (NYSE:FSLY - Get Rating) EVP Brett Shirk sold 7,000 shares of Fastly stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $9.92, for a total value of $69,440.00. Following the sale, the executive vice president now directly owns 263,244 shares of the company's stock, valued at $2,611,380.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Brett Shirk also recently made the following trade(s):
- On Tuesday, August 16th, Brett Shirk sold 3,979 shares of Fastly stock. The stock was sold at an average price of $11.97, for a total value of $47,628.63.
Fastly Trading Up 0.4 %
Shares of FSLY stock traded up $0.04 on Monday, reaching $9.32. 2,146,367 shares of the stock were exchanged, compared to its average volume of 4,717,771. The stock has a market cap of $1.14 billion, a P/E ratio of -5.65 and a beta of 1.43. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $10.74 and a two-hundred day moving average of $13.17. Fastly, Inc. has a 1-year low of $8.27 and a 1-year high of $58.62.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FSLY. Royal Bank of Canada cut Fastly from a "sector perform" rating to an "underperform" rating and cut their target price for the stock from $17.50 to $9.00 in a research report on Tuesday, July 19th. Craig Hallum cut their target price on Fastly from $19.00 to $13.00 in a research report on Thursday, August 4th. Raymond James cut their target price on Fastly from $35.00 to $25.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 12th. DA Davidson dropped their price target on Fastly to $12.00 in a research report on Tuesday, August 9th. Finally, Piper Sandler dropped their price target on Fastly from $19.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 6th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $14.25.
Institutional Trading of Fastly
Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in Fastly by 114.8% in the 2nd 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 last quarter. First Trust Advisors LP boosted its position in Fastly by 65.3% in the 1st quarter. First Trust Advisors LP now owns 7,846,587 shares of the company's stock valued at $136,374,000 after buying an additional 3,099,852 shares during the last quarter. Coatue Management LLC purchased a new position in Fastly in the 4th quarter valued at about $93,363,000. Renaissance Technologies LLC purchased a new position in Fastly in the 1st quarter valued at about $21,322,000. Finally, Canada Pension Plan Investment Board purchased a new position in Fastly in the 4th quarter valued at about $33,625,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.
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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