Fastly, Inc. (NYSE:FSLY) Sees Large Decrease in Short Interest

Fastly, Inc. (NYSE:FSLY - Get Free Report) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 12,360,000 shares, a decrease of 14.1% from the September 30th total of 14,390,000 shares. Based on an average daily volume of 3,080,000 shares, the short-interest ratio is presently 4.0 days.

Analysts Set New Price Targets

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

Insider Buying and Selling at Fastly

In related news, CFO Ronald W. Kisling sold 7,449 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total value of $53,930.76. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO Artur Bergman sold 19,889 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total value of $118,538.44. Following the sale, the chief technology officer now directly owns 6,205,000 shares in the company, valued at $36,981,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ronald W. Kisling sold 7,449 shares of Fastly stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the transaction, the chief financial officer now directly owns 558,564 shares in the company, valued at $4,044,003.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,450 shares of company stock worth $891,093. Company insiders own 6.70% of the company's stock.

Institutional Investors Weigh In On Fastly

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Fastly by 94.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company's stock valued at $12,453,000 after buying an additional 466,560 shares during the last quarter. Vanguard Group Inc. lifted its stake in Fastly by 5.1% in the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company's stock valued at $176,152,000 after acquiring an additional 657,334 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Fastly by 52.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company's stock valued at $664,000 after acquiring an additional 17,536 shares during the period. Wellington Management Group LLP acquired a new position in shares of Fastly during the 4th quarter worth about $2,933,000. Finally, Qsemble Capital Management LP bought a new stake in shares of Fastly in the 2nd quarter valued at about $586,000. 79.71% of the stock is owned by institutional investors.

Fastly Stock Up 0.2 %

Shares of FSLY stock traded up $0.01 on Tuesday, hitting $7.35. 1,986,741 shares of the stock were exchanged, compared to its average volume of 3,544,584. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.02 billion, a P/E ratio of -7.35 and a beta of 1.22. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The business has a 50-day moving average of $6.86 and a 200 day moving average of $7.82.

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