Fastly, Inc. (NYSE:FSLY - Get Free Report)'s stock price dropped 7% during trading on Friday . The company traded as low as $6.60 and last traded at $6.60. Approximately 937,739 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 3,530,651 shares. The stock had previously closed at $7.10.
Analyst Ratings Changes
A number of brokerages have commented on FSLY. Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Raymond James lowered shares of Fastly from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. Morgan Stanley decreased their target price on shares of Fastly from $12.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 27th. Piper Sandler lifted their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, DA Davidson increased their price objective on Fastly from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $7.94.
Check Out Our Latest Research Report on Fastly
Fastly Price Performance
The stock has a 50 day moving average of $7.20 and a 200-day moving average of $7.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.13 and a current ratio of 3.97. The company has a market cap of $899.32 million, a PE ratio of -5.87 and a beta of 1.24.
Fastly (NYSE:FSLY - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating 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 firm had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. Fastly's revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current year.
Insiders Place Their Bets
In related news, CTO Artur Bergman sold 19,889 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total transaction of $118,538.44. Following the sale, the chief technology officer now directly owns 6,205,000 shares of the company's stock, valued at approximately $36,981,800. This represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd Nightingale sold 12,163 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $6.25, for a total transaction of $76,018.75. Following the completion of the transaction, the chief executive officer now owns 1,650,789 shares of the company's stock, valued at approximately $10,317,431.25. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,881 shares of company stock valued at $677,703. Company insiders own 6.70% of the company's stock.
Institutional Trading of Fastly
A number of institutional investors have recently made changes to their positions in FSLY. Point72 DIFC Ltd purchased a new position in Fastly during the second quarter worth approximately $38,000. Cambridge Trust Co. acquired a new position in shares of Fastly during the 1st quarter valued at about $39,000. FMR LLC grew 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 during the period. Cape Investment Advisory Inc. grew its holdings in shares of Fastly by 27,666.7% in the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company's stock valued at $54,000 after purchasing an additional 4,150 shares during the period. Finally, EMC Capital Management increased its position in Fastly by 400.0% during the second quarter. EMC Capital Management now owns 7,500 shares of the company's stock worth $54,000 after purchasing an additional 6,000 shares during the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.
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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