Ronald W. Kisling Sells 7,449 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY - Get Free Report) CFO Ronald W. Kisling sold 7,449 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the completion of the sale, the chief financial officer now directly owns 558,564 shares in the company, valued at $4,044,003.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Fastly Trading Up 1.5 %

NYSE FSLY traded up $0.11 on Friday, hitting $7.31. 4,308,522 shares of the stock were exchanged, compared to its average volume of 3,596,789. The company's 50-day moving average price is $6.69 and its two-hundred day moving average price is $8.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. Fastly, Inc. has a 52-week low of $5.52 and a 52-week high of $25.87. The company has a market capitalization of $998.82 million, a price-to-earnings ratio of -7.31 and a beta of 1.22.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The firm had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. During the same period in the previous year, the firm earned ($0.32) earnings per share. Fastly's quarterly revenue was up 7.8% on a year-over-year basis. Research analysts predict that Fastly, Inc. will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Raymond James cut shares of Fastly from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 1st. Piper Sandler lowered shares of Fastly from an "overweight" rating to a "neutral" rating and cut their target price for the company from $10.00 to $6.00 in a research note on Thursday, August 8th. Morgan Stanley decreased their price target on shares of Fastly from $12.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 27th. Finally, Craig Hallum reduced their price objective on Fastly from $10.00 to $6.00 and set a "hold" rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Fastly presently has a consensus rating of "Hold" and a consensus price target of $7.81.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Trust Co. purchased a new stake in shares of Fastly during the 1st quarter worth about $39,000. Cape Investment Advisory Inc. lifted its stake in 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 acquiring an additional 4,150 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Fastly during the 2nd quarter worth $38,000. EntryPoint Capital LLC raised its holdings in shares of Fastly by 41.1% during the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company's stock valued at $73,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Fastly in the 1st quarter valued at $92,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

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.

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