Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale Sells 8,595 Shares

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 8,595 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $6.87, for a total value of $59,047.65. Following the sale, the chief executive officer now directly owns 1,544,706 shares in the company, valued at $10,612,130.22. This represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Todd Nightingale also recently made the following trade(s):

• On Wednesday, February 19th, Todd Nightingale sold 35,509 shares of Fastly stock. The stock was sold at an average price of $8.04, for a total value of $285,492.36.

Fastly Stock Performance

Shares of NYSE:FSLY opened at $6.74 on Friday. 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, Inc. has a 1 year low of $5.52 and a 1 year high of $14.76. The firm has a market capitalization of $944.92 million, a PE ratio of -5.91 and a beta of 1.26. The business’s 50 day moving average price is $9.34 and its 200-day moving average price is $8.13.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. As a group, equities research analysts expect that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Piper Sandler reiterated a “neutral” rating and set a $9.00 price target (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Royal Bank of Canada decreased their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Monday, December 2nd. DA Davidson lifted their price objective on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Robert W. Baird increased their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.55.

Institutional Trading of Fastly

Hedge funds have recently bought and sold shares of the business. AlphaQuest LLC boosted its holdings in shares of Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares during the last quarter. FMR LLC boosted its stake in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after buying an additional 3,221 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Fastly in the 4th quarter worth $72,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Fastly during the 4th quarter worth $82,000. 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.