Fastly Sees Unusually High Options Volume (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY - Get Free Report) saw unusually large options trading on Thursday. Stock investors bought 14,505 call options on the stock. This is an increase of 64% compared to the average volume of 8,821 call options.

Insiders Place Their Bets

In other Fastly news, CEO Todd Nightingale sold 12,163 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.12, for a total transaction of $98,763.56. Following the sale, the chief executive officer now directly owns 1,588,810 shares of the company's stock, valued at approximately $12,901,137.20. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction dated 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 directly owns 519,812 shares in the company, valued at approximately $4,912,223.40. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,312 shares of company stock valued at $1,770,133 in the last three months. Company insiders own 6.70% of the company's stock.

Institutional Trading of Fastly

Several institutional investors and hedge funds have recently modified their holdings of FSLY. The Manufacturers Life Insurance Company raised its stake in Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company's stock worth $503,000 after acquiring an additional 2,128 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Fastly by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company's stock valued at $128,000 after purchasing an additional 2,296 shares during the last quarter. Wealth Effects LLC increased its position in Fastly by 86.9% during the 3rd quarter. Wealth Effects LLC now owns 23,651 shares of the company's stock worth $179,000 after purchasing an additional 11,000 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Fastly by 308.0% in the 3rd quarter. International Assets Investment Management LLC now owns 76,101 shares of the company's stock valued at $5,760,000 after purchasing an additional 57,448 shares during the last quarter. Finally, Entropy Technologies LP boosted its position in Fastly by 118.7% in the third quarter. Entropy Technologies LP now owns 39,803 shares of the company's stock valued at $301,000 after buying an additional 21,600 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several research analyst reports. DA Davidson raised their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Piper Sandler restated a "neutral" rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a report on Thursday. Oppenheimer raised shares of Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 target price for the company in a research note on Monday, December 2nd. Royal Bank of Canada dropped their price target on Fastly from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research note on Thursday. Finally, Craig Hallum boosted their price target on Fastly from $6.00 to $8.00 and gave the company a "hold" rating in a report on Thursday, November 7th. One investment 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 MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $8.55.

Fastly Price Performance

FSLY stock traded up $0.12 during mid-day trading on Monday, hitting $8.09. The stock had a trading volume of 5,269,424 shares, compared to its average volume of 2,172,157. The firm has a fifty day simple moving average of $9.93 and a 200 day simple moving average of $8.11. The firm has a market capitalization of $1.13 billion, a P/E ratio of -7.42 and a beta of 1.26. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly has a 52 week low of $5.52 and a 52 week high of $18.42.

Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. As a group, research analysts forecast that Fastly will post -0.86 EPS for the current year.

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.