Fastly Sees Unusually High Options Volume (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the target of some unusual options trading activity on Thursday. Stock traders purchased 14,505 call options on the stock. This represents an increase of approximately 64% compared to the average volume of 8,821 call options.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FSLY shares. Craig Hallum increased their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price objective on shares of Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. DA Davidson boosted their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird upped their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler reiterated a “neutral” rating and set a $9.00 price target (down previously from $10.00) on shares of Fastly in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.75.

Insider Activity at Fastly

In other Fastly 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 transaction, the chief executive officer now owns 1,600,973 shares in the company, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value of $40,834.00. Following the completion of the sale, the chief technology officer now directly owns 3,444,136 shares of the company’s stock, valued at $41,364,073.36. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 260,152 shares of company stock worth $2,287,883 over the last quarter. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FSLY. 180 Wealth Advisors LLC increased its position in shares of Fastly by 2.5% during the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after purchasing an additional 1,695 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after buying an additional 2,128 shares during the period. Blue Trust Inc. increased its holdings in Fastly by 15.2% during the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after buying an additional 2,296 shares during the last quarter. AlphaQuest LLC raised its position in Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after acquiring an additional 2,960 shares during the period. Finally, Rhumbline Advisers boosted its stake in Fastly by 1.6% in the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock valued at $1,814,000 after acquiring an additional 3,081 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Stock Down 22.1 %

Fastly stock traded down $2.23 during midday trading on Thursday, hitting $7.85. 8,152,904 shares of the stock were exchanged, compared to its average volume of 2,818,307. Fastly has a 52-week low of $5.52 and a 52-week high of $23.68. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $10.03 and its 200-day moving average price is $8.11. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -7.19 and a beta of 1.26.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. On average, research analysts expect that Fastly will post -0.86 EPS for the current fiscal 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.