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

Fastly, Inc. (NYSE:FSLY - Get Free Report) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 10,200,000 shares, a decrease of 13.9% from the October 31st total of 11,840,000 shares. Based on an average daily trading volume, of 2,620,000 shares, the short-interest ratio is presently 3.9 days.

Insider Buying and Selling

In other news, CEO Todd Nightingale sold 49,816 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $311,350.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,973 shares of the company's stock, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 19,889 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total transaction of $118,538.44. Following the transaction, the chief technology officer now directly owns 6,205,000 shares in the company, valued at $36,981,800. This trade represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 174,439 shares of company stock valued at $1,209,560. Company insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Point72 DIFC Ltd acquired a new stake in shares of Fastly in the 2nd quarter valued at $38,000. FMR LLC increased its position in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company's stock worth $48,000 after purchasing an additional 3,522 shares during the period. EMC Capital Management raised its holdings in Fastly by 400.0% during the 2nd 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. Daiwa Securities Group Inc. raised its holdings in Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company's stock worth $65,000 after purchasing an additional 4,318 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Fastly during the 3rd quarter valued at about $89,000. Institutional investors and hedge funds own 79.71% of the company's stock.

Fastly Price Performance

FSLY stock traded up $0.56 during trading on Friday, hitting $8.48. 2,098,009 shares of the stock traded hands, compared to its average volume of 3,298,616. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -7.78 and a beta of 1.24. Fastly has a one year low of $5.52 and a one year high of $25.87. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a 50 day simple moving average of $7.39 and a 200 day simple moving average of $7.25.

Fastly (NYSE:FSLY - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company had revenue of $137.21 million during the quarter, compared to analysts' expectations of $131.86 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. Fastly's quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts expect that Fastly will post -0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FSLY shares. Robert W. Baird boosted their price target on Fastly from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Raymond James lowered Fastly from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. Craig Hallum lifted their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a "hold" rating in a research note on Thursday, November 7th. Morgan Stanley dropped their price objective on shares of Fastly from $12.00 to $7.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 27th. Finally, DA Davidson raised their price objective on shares of Fastly from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Thursday, November 7th. One 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 presently has a consensus rating of "Hold" and a consensus target price of $7.94.

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.