David Hornik Sells 396,542 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLYGet Rating) Director David Hornik sold 396,542 shares of Fastly stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $9.92, for a total value of $3,933,696.64. Following the completion of the transaction, the director now owns 197,178 shares in the company, valued at approximately $1,956,005.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fastly Price Performance

Fastly stock opened at $9.77 on Thursday. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.20 billion, a PE ratio of -5.78 and a beta of 1.24. Fastly, Inc. has a 12 month low of $7.32 and a 12 month high of $49.37. The stock has a 50-day moving average price of $8.81 and a two-hundred day moving average price of $10.67.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. DA Davidson reduced their price target on shares of Fastly to $12.00 in a research note on Tuesday, August 9th. Piper Sandler lowered their price target on shares of Fastly from $13.00 to $10.00 in a report on Thursday, November 3rd. Raymond James cut their price objective on Fastly from $35.00 to $25.00 and set a “strong-buy” rating on the stock in a report on Friday, August 12th. Craig Hallum lowered their target price on Fastly from $19.00 to $13.00 in a report on Thursday, August 4th. Finally, Citigroup dropped their target price on Fastly from $10.00 to $8.00 and set a “sell” rating for the company in a research report on Tuesday, November 8th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Fastly has a consensus rating of “Hold” and an average price target of $12.75.

Institutional Investors Weigh In On Fastly

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Fastly in the second quarter valued at about $424,000. SG Americas Securities LLC increased its stake in shares of Fastly by 39.6% in the second quarter. SG Americas Securities LLC now owns 61,244 shares of the company’s stock valued at $711,000 after buying an additional 17,368 shares during the period. Oak Thistle LLC increased its stake in shares of Fastly by 32.7% in the first quarter. Oak Thistle LLC now owns 10,601 shares of the company’s stock valued at $185,000 after buying an additional 2,611 shares during the period. Jeneq Management LP acquired a new stake in shares of Fastly in the first quarter valued at about $438,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of Fastly in the first quarter valued at about $177,000. Institutional investors and hedge funds own 65.42% of the company’s stock.

About Fastly

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

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