Fastly, Inc. (NYSE:FSLY) Short Interest Update

Fastly, Inc. (NYSE:FSLYGet Free Report) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 8,930,000 shares, an increase of 7.2% from the February 29th total of 8,330,000 shares. Based on an average daily trading volume, of 3,950,000 shares, the short-interest ratio is presently 2.3 days.

Insider Transactions at Fastly

In other news, Director Richard Devon Daniels sold 7,766 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $12.66, for a total value of $98,317.56. Following the completion of the transaction, the director now directly owns 34,328 shares of the company’s stock, valued at approximately $434,592.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Todd Nightingale sold 50,708 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.09, for a total transaction of $815,891.72. Following the sale, the chief executive officer now directly owns 1,371,348 shares in the company, valued at approximately $22,064,989.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Devon Daniels sold 7,766 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $12.66, for a total value of $98,317.56. Following the sale, the director now owns 34,328 shares in the company, valued at $434,592.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 328,695 shares of company stock valued at $5,746,270. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FSLY. Neo Ivy Capital Management bought a new position in shares of Fastly in the 2nd quarter worth $29,000. Meeder Asset Management Inc. boosted its position in shares of Fastly by 13,926.9% in the 4th quarter. Meeder Asset Management Inc. now owns 3,647 shares of the company’s stock worth $30,000 after purchasing an additional 3,621 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Fastly in the 3rd quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastly in the 3rd quarter worth $36,000. Finally, MetLife Investment Management LLC bought a new position in shares of Fastly in the 1st quarter worth $37,000. 79.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FSLY. Bank of America decreased their price target on Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Craig Hallum lowered Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research report on Thursday, February 15th. Citigroup upgraded Fastly from a “sell” rating to a “neutral” rating and increased their price objective for the company from $11.00 to $20.00 in a research report on Monday, January 22nd. Finally, Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $12.00 to $18.00 in a research report on Monday, January 8th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.50.

Get Our Latest Stock Analysis on Fastly

Fastly Stock Down 1.9 %

Shares of FSLY opened at $12.70 on Thursday. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -12.21 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14. The business’s fifty day moving average price is $16.35 and its two-hundred day moving average price is $16.96. Fastly has a 52 week low of $11.61 and a 52 week high of $25.87.

Fastly (NYSE:FSLYGet Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.05. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. The business had revenue of $137.78 million for the quarter, compared to analyst estimates of $139.25 million. On average, analysts predict that Fastly will post -1.07 earnings per share for the current year.

Fastly Company Profile

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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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