Brokerages Set Fastly, Inc. (NYSE:FSLY) PT at $13.14

Fastly, Inc. (NYSE:FSLY) has received an average rating of “Hold” from the ten brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $13.1429.

A number of research firms recently weighed in on FSLY. Royal Bank Of Canada lifted their price target on Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Citigroup raised their target price on Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 13th. DA Davidson set a $13.00 target price on shares of Fastly in a research report on Thursday, February 12th. Piper Sandler reaffirmed a “neutral” rating and set a $14.00 price target (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Finally, William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th.

Insider Buying and Selling

In other Fastly news, insider Scott R. Lovett sold 41,682 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $26.45, for a total value of $1,102,488.90. Following the completion of the transaction, the insider directly owned 1,503,878 shares of the company’s stock, valued at approximately $39,777,573.10. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Lacey Compton III sold 36,694 shares of Fastly stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $20.69, for a total transaction of $759,198.86. Following the sale, the chief executive officer owned 1,212,778 shares of the company’s stock, valued at approximately $25,092,376.82. The trade was a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,578,702 shares of company stock valued at $29,758,555. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

A number of institutional investors have recently bought and sold shares of FSLY. Kestra Advisory Services LLC grew its holdings in Fastly by 8.4% in the fourth quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock valued at $122,000 after purchasing an additional 930 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Fastly by 3.2% during the 3rd quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock worth $348,000 after buying an additional 1,253 shares during the last quarter. Parallax Volatility Advisers L.P. boosted its position in shares of Fastly by 13.8% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock worth $103,000 after buying an additional 1,465 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Fastly by 10.1% in the 4th quarter. ProShare Advisors LLC now owns 26,553 shares of the company’s stock worth $270,000 after buying an additional 2,435 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in Fastly by 3.7% in the 4th quarter. 180 Wealth Advisors LLC now owns 79,221 shares of the company’s stock valued at $806,000 after acquiring an additional 2,860 shares during the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Stock Performance

NYSE FSLY opened at $28.75 on Friday. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of -29.95 and a beta of 0.88. The business’s 50 day moving average is $15.81 and its two-hundred day moving average is $11.78. Fastly has a 12-month low of $4.65 and a 12-month high of $28.79. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.