Fastly, Inc. (NYSE:FSLY) Sees Significant Drop in Short Interest

Fastly, Inc. (NYSE:FSLY - Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 9,260,000 shares, a decrease of 8.5% from the December 15th total of 10,120,000 shares. Based on an average trading volume of 3,210,000 shares, the short-interest ratio is currently 2.9 days.

Insider Activity at Fastly

In other Fastly news, CTO Artur Bergman sold 49,178 shares of Fastly stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the transaction, the chief technology officer now owns 6,155,822 shares of the company's stock, valued at $49,677,483.54. The trade was a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Todd Nightingale sold 49,816 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $311,350.00. Following the sale, the chief executive officer now owns 1,600,973 shares of the company's stock, valued at approximately $10,006,081.25. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,741 shares of company stock valued at $1,993,300 over the last ninety days. Corporate insiders own 6.70% of the company's stock.

Institutional Trading of Fastly

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in Fastly during the second quarter valued at about $38,000. FMR LLC lifted its holdings in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company's stock valued at $48,000 after purchasing an additional 3,522 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Fastly in the third quarter worth $89,000. Lombard Odier Asset Management USA Corp purchased a new position in shares of Fastly during the second quarter valued at $114,000. Finally, Blue Trust Inc. raised its position in Fastly by 15.2% during the third quarter. Blue Trust Inc. now owns 17,420 shares of the company's stock valued at $128,000 after buying an additional 2,296 shares during the period. 79.71% of the stock is owned by institutional investors and hedge funds.

Fastly Price Performance

Shares of NYSE FSLY traded down $0.10 during mid-day trading on Friday, reaching $9.31. 2,642,594 shares of the company traded hands, compared to its average volume of 2,532,854. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The firm has a market cap of $1.31 billion, a PE ratio of -8.54 and a beta of 1.24. The stock has a fifty day simple moving average of $9.14 and a 200-day simple moving average of $7.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY - Get Free Report) last posted 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. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. During the same quarter in the previous year, the business earned ($0.33) EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that Fastly will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FSLY shares. DA Davidson boosted their price objective on shares of Fastly from $5.50 to $7.50 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Raymond James cut Fastly from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. Piper Sandler upped their price target on shares of Fastly from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Robert W. Baird lifted their price objective 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. Finally, Citigroup upped their target price on shares of Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $8.85.

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.