Traders Buy Large Volume of Fastly Call Options (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY – Get Rating) was the recipient of some unusual options trading activity on Monday. Investors acquired 13,601 call options on the company. This is an increase of approximately 68% compared to the typical daily volume of 8,090 call options.

Insider Buying and Selling at Fastly

In other news, Director David Hornik sold 396,542 shares of Fastly stock in a transaction that occurred on 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 sale, the director now directly owns 197,178 shares in the company, valued at $1,956,005.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Artur Bergman sold 14,190 shares of Fastly stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $10.44, for a total value of $148,143.60. Following the sale, the insider now directly owns 6,680,924 shares in the company, valued at $69,748,846.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Hornik sold 396,542 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $9.92, for a total transaction of $3,933,696.64. Following the transaction, the director now owns 197,178 shares in the company, valued at $1,956,005.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 511,393 shares of company stock valued at $5,113,437. 8.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fastly

Institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC bought a new stake in shares of Fastly in the first quarter valued at about $37,000. Penserra Capital Management LLC boosted its position in shares of Fastly by 50.0% in the first quarter. Penserra Capital Management LLC now owns 3,072 shares of the company’s stock valued at $53,000 after acquiring an additional 1,024 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Fastly in the third quarter valued at about $60,000. Captrust Financial Advisors boosted its position in shares of Fastly by 32.2% in the first quarter. Captrust Financial Advisors now owns 3,859 shares of the company’s stock valued at $67,000 after acquiring an additional 941 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Fastly in the third quarter valued at about $98,000. Institutional investors own 60.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FSLY. Credit Suisse Group began coverage on shares of Fastly in a report on Monday, November 21st. They set a “neutral” rating and a $9.50 target price on the stock. Morgan Stanley lowered their target price on shares of Fastly from $12.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, October 20th. Piper Sandler lowered their target price on shares of Fastly from $13.00 to $10.00 in a report on Thursday, November 3rd. Finally, Citigroup lowered their target price on shares of Fastly from $10.00 to $8.00 and set a “sell” rating on the stock in a report on Tuesday, November 8th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Fastly currently has an average rating of “Hold” and an average target price of $12.39.

Fastly Trading Up 3.7 %

FSLY stock opened at $10.62 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.41 and a quick ratio of 4.41. The company has a fifty day moving average price of $9.05 and a two-hundred day moving average price of $9.54. Fastly has a one year low of $7.15 and a one year high of $29.99. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -6.28 and a beta of 1.30.

Fastly (NYSE:FSLY – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. Fastly had a negative net margin of 49.05% and a negative return on equity of 22.82%. The firm had revenue of $108.50 million during the quarter, compared to analysts’ expectations of $103.26 million. Equities analysts anticipate that Fastly will post -1.89 EPS for the current year.

About Fastly

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Fastly, Inc provides real-time content delivery network services. It offers edge compute, edge delivery, edge security, edge applications like load balancing and image optimization, video on demand, and managed edge delivery. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.