Fastly, Inc. (NYSE:FSLY) Short Interest Down 8.5% in January

Fastly, Inc. (NYSE:FSLY - Get Free Report) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 9,260,000 shares, a decrease of 8.5% from the December 31st total of 10,120,000 shares. Based on an average daily volume of 3,210,000 shares, the days-to-cover ratio is presently 2.9 days.

Fastly Stock Performance

Shares of Fastly stock traded down $0.29 on Wednesday, hitting $10.24. 2,996,912 shares of the company's stock were exchanged, compared to its average volume of 2,306,345. Fastly has a 1 year low of $5.52 and a 1 year high of $25.87. The company has a 50-day simple moving average of $9.88 and a 200-day simple moving average of $8.02. The stock has a market capitalization of $1.44 billion, a PE ratio of -9.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million during the quarter, compared to analysts' expectations of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business's revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted ($0.33) EPS. As a group, equities analysts anticipate that Fastly will post -0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FSLY shares. Citigroup raised their price objective on Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Piper Sandler boosted their price target on Fastly from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Royal Bank of Canada raised their target price on Fastly from $7.00 to $10.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. DA Davidson boosted their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $8.85.

Insider Transactions at Fastly

In other Fastly news, CTO Artur Bergman sold 10,000 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $10.12, for a total value of $101,200.00. Following the completion of the transaction, the chief technology officer now directly owns 3,384,136 shares of the company's stock, valued at approximately $34,247,456.32. The trade was a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronald W. Kisling sold 6,038 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total transaction of $57,059.10. Following the sale, the chief financial officer now owns 519,812 shares in the company, valued at approximately $4,912,223.40. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 240,152 shares of company stock valued at $2,079,983. 6.70% of the stock is owned by insiders.

Institutional Trading of Fastly

Several institutional investors and hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC boosted its holdings in shares of Fastly by 18.8% in the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company's stock valued at $38,418,000 after acquiring an additional 801,968 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Fastly by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company's stock valued at $22,831,000 after buying an additional 46,951 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company's stock worth $9,867,000 after buying an additional 1,293,490 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fastly by 18.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company's stock valued at $8,006,000 after acquiring an additional 161,070 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Fastly by 56.6% during the fourth quarter. SG Americas Securities LLC now owns 346,632 shares of the company's stock worth $3,272,000 after buying an additional 125,275 shares during the last quarter. Institutional investors own 79.71% of the company's stock.

About Fastly

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.