Fastly (NYSE:FSLY) Shares Down 6.4% - What's Next?

Fastly, Inc. (NYSE:FSLY - Get Free Report) traded down 6.4% on Friday . The company traded as low as $8.79 and last traded at $8.82. 461,136 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 2,043,911 shares. The stock had previously closed at $9.42.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Fastly from $7.00 to $10.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. Piper Sandler upped their price target on Fastly from $8.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. DA Davidson upped their price target on Fastly from $5.50 to $7.50 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Robert W. Baird upped their price target on Fastly from $7.00 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Finally, Craig Hallum upped their price target on Fastly from $6.00 to $8.00 and gave the stock a "hold" rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.85.

Fastly Price Performance

The company has a 50-day simple moving average of $8.96 and a 200-day simple moving average of $7.71. The stock has a market cap of $1.27 billion, a PE ratio of -8.28 and a beta of 1.24. 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 released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. The firm had revenue of $137.21 million during the quarter, compared to analysts' expectations of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Fastly's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.33) earnings per share. Sell-side analysts anticipate that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 8,049 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.04, for a total value of $80,811.96. Following the sale, the chief technology officer now owns 3,426,087 shares of the company's stock, valued at approximately $34,397,913.48. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Nightingale sold 49,816 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $311,350.00. Following the sale, the chief executive officer now directly owns 1,600,973 shares in the company, 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. Over the last 90 days, insiders have sold 249,190 shares of company stock valued at $2,047,230. Insiders own 6.70% of the company's stock.

Institutional Trading of Fastly

Large investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in shares of Fastly by 11,140.2% during the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company's stock valued at $9,867,000 after acquiring an additional 1,293,490 shares during the last quarter. Quadrature Capital Ltd boosted its stake in shares of Fastly by 84.2% during the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company's stock valued at $848,000 after acquiring an additional 51,224 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Fastly by 18.8% during the third 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. XTX Topco Ltd acquired a new stake in shares of Fastly during the third quarter valued at $400,000. Finally, Zacks Investment Management acquired a new stake in shares of Fastly during the third quarter valued at $914,000. Institutional investors and hedge funds own 79.71% of the company's stock.

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.