Fastly, Inc. (NYSE:FSLY) EVP Brett Shirk Sells 3,060 Shares

Fastly, Inc. (NYSE:FSLY) EVP Brett Shirk sold 3,060 shares of the company’s stock in a transaction on Thursday, September 16th. The stock was sold at an average price of $43.39, for a total value of $132,773.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

NYSE:FSLY opened at $42.44 on Tuesday. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of -27.03 and a beta of 1.08. The firm’s fifty day simple moving average is $45.52 and its 200 day simple moving average is $54.50. Fastly, Inc. has a twelve month low of $33.87 and a twelve month high of $136.50.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, August 4th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.19. The company had revenue of $85.03 million during the quarter, compared to the consensus estimate of $85.98 million. Fastly had a negative net margin of 55.22% and a negative return on equity of 16.57%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS. On average, analysts predict that Fastly, Inc. will post -1.68 earnings per share for the current year.

Several brokerages have recently issued reports on FSLY. Piper Sandler reduced their price objective on Fastly from $45.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, August 5th. Raymond James began coverage on Fastly in a research note on Monday, August 9th. They issued a “market perform” rating on the stock. William Blair cut Fastly from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 5th. Royal Bank of Canada began coverage on Fastly in a research note on Thursday, June 10th. They issued a “sector perform” rating and a $50.00 price objective on the stock. Finally, Citigroup reduced their price objective on Fastly from $46.00 to $33.00 and set a “sell” rating on the stock in a research note on Thursday, August 5th. Four research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat, Fastly currently has a consensus rating of “Hold” and a consensus target price of $61.69.

Several large investors have recently made changes to their positions in the stock. Activest Wealth Management bought a new stake in shares of Fastly during the 2nd quarter valued at about $36,000. Parametric Portfolio Associates LLC grew its position in Fastly by 1.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 106,146 shares of the company’s stock worth $6,326,000 after purchasing an additional 1,606 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Fastly in the 2nd quarter worth about $1,284,000. Adalta Capital Management LLC grew its position in Fastly by 355.6% in the 2nd quarter. Adalta Capital Management LLC now owns 9,955 shares of the company’s stock worth $593,000 after purchasing an additional 7,770 shares during the last quarter. Finally, Invesco Ltd. grew its position in Fastly by 7.8% in the 2nd quarter. Invesco Ltd. now owns 86,462 shares of the company’s stock worth $5,153,000 after purchasing an additional 6,262 shares during the last quarter. 63.68% of the stock is owned by institutional investors and hedge funds.

Fastly Company Profile

Fastly, Inc provides real-time content delivery network services. It offers edge cloud platform, edge software development kit (SDK), content delivery and image optimization, video and streaming, cloud security, load balancing, and managed CDN. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.

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Insider Buying and Selling by Quarter for Fastly (NYSE:FSLY)

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