Ronald W. Kisling Sells 5,083 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLYGet Rating) CFO Ronald W. Kisling sold 5,083 shares of the business’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $19.06, for a total transaction of $96,881.98. Following the completion of the transaction, the chief financial officer now directly owns 305,968 shares of the company’s stock, valued at $5,831,750.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of FSLY stock opened at $17.02 on Friday. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 0.94. Fastly, Inc. has a 12-month low of $13.01 and a 12-month high of $72.08. The firm has a fifty day moving average of $17.87 and a 200-day moving average of $31.55. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -8.86 and a beta of 1.52.

Fastly (NYSE:FSLYGet Rating) last posted its earnings results on Wednesday, February 16th. The company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.02). Fastly had a negative return on equity of 19.14% and a negative net margin of 62.85%. The business had revenue of $97.72 million for the quarter, compared to the consensus estimate of $92.48 million. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. Research analysts expect that Fastly, Inc. will post -1.77 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Fastly from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Tuesday. Piper Sandler dropped their target price on Fastly from $35.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, February 17th. Morgan Stanley lowered their price target on shares of Fastly from $43.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 17th. Bank of America lowered their target price on shares of Fastly from $28.00 to $16.00 in a report on Tuesday, March 22nd. Finally, William Blair reiterated a “market perform” rating on shares of Fastly in a research report on Thursday, January 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Fastly currently has a consensus rating of “Hold” and a consensus price target of $33.30.

Institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley boosted its stake in Fastly by 3.9% in the 3rd quarter. Morgan Stanley now owns 13,995,511 shares of the company’s stock worth $565,979,000 after purchasing an additional 528,067 shares during the period. BlackRock Inc. raised its stake in shares of Fastly by 13.2% in the 4th quarter. BlackRock Inc. now owns 5,117,768 shares of the company’s stock valued at $181,425,000 after purchasing an additional 595,811 shares during the period. Coatue Management LLC bought a new stake in shares of Fastly in the fourth quarter valued at about $93,363,000. Legal & General Group Plc boosted its position in shares of Fastly by 43.4% during the fourth quarter. Legal & General Group Plc now owns 2,084,803 shares of the company’s stock worth $73,906,000 after buying an additional 630,586 shares during the period. Finally, State Street Corp grew its holdings in shares of Fastly by 5.4% during the fourth quarter. State Street Corp now owns 1,581,059 shares of the company’s stock worth $56,049,000 after buying an additional 80,995 shares in the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.

About Fastly (Get Rating)

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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