Fastly, Inc. (NYSE:FSLY) Short Interest Update

Fastly, Inc. (NYSE:FSLY - Get Free Report) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 9,310,000 shares, a drop of 7.3% from the January 15th total of 10,040,000 shares. Based on an average daily volume of 3,250,000 shares, the short-interest ratio is presently 2.9 days.

Fastly Stock Performance

Shares of NYSE FSLY traded down $0.54 during mid-day trading on Friday, hitting $7.28. The stock had a trading volume of 4,189,562 shares, compared to its average volume of 3,175,196. The company has a 50 day moving average of $9.72 and a two-hundred day moving average of $8.12. The firm has a market cap of $1.02 billion, a PE ratio of -6.38 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 has a twelve month low of $5.52 and a twelve month high of $14.90.

Fastly (NYSE:FSLY - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Research analysts predict that Fastly will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction on Monday, February 10th. The stock was sold at an average price of $10.58, for a total value of $105,800.00. Following the completion of the sale, the chief technology officer now owns 3,364,136 shares of the company's stock, valued at $35,592,558.88. The trade was a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ronald W. Kisling sold 6,038 shares of Fastly stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total value of $57,059.10. Following the completion of the sale, the chief financial officer now directly owns 519,812 shares of the company's stock, valued at $4,912,223.40. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,312 shares of company stock valued at $1,770,133. Corporate insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On Fastly

Several large investors have recently modified their holdings of the business. 180 Wealth Advisors LLC lifted its stake in shares of Fastly by 2.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company's stock valued at $648,000 after purchasing an additional 1,695 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Fastly by 15.2% in the 3rd 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. AlphaQuest LLC raised its holdings in shares of Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock valued at $44,000 after buying an additional 2,960 shares during the period. Rhumbline Advisers raised its holdings in shares of Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company's stock valued at $1,814,000 after buying an additional 3,081 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in shares of Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after buying an additional 3,221 shares during the period. Institutional investors and hedge funds own 79.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FSLY. Oppenheimer upgraded Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 target price on the stock in a research report on Monday, December 2nd. Craig Hallum lifted their target price on Fastly from $6.00 to $8.00 and gave the company a "hold" rating in a research report on Thursday, November 7th. DA Davidson lifted their target price on Fastly from $5.50 to $7.50 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Piper Sandler reiterated a "neutral" rating and set a $9.00 target price (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Finally, Robert W. Baird boosted their price objective on 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 given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $8.55.

Fastly Company Profile

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.