Fastly Sees Unusually High Options Volume (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the target of some unusual options trading activity on Wednesday. Traders purchased 29,107 call options on the stock. This represents an increase of approximately 125% compared to the average volume of 12,949 call options.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Piper Sandler upgraded Fastly from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $19.00 to $16.00 in a research report on Monday, April 8th. Citigroup upgraded Fastly from a “sell” rating to a “neutral” rating and lifted their target price for the company from $11.00 to $20.00 in a research note on Monday, January 22nd. Bank of America dropped their price target on Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and boosted their price target for the stock from $12.00 to $18.00 in a research note on Monday, January 8th. Finally, 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 note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.11.

Fastly Trading Down 0.5 %

Shares of FSLY stock opened at $12.82 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -12.33 and a beta of 1.22. The stock has a 50 day simple moving average of $13.47 and a 200-day simple moving average of $16.38. Fastly has a 1-year low of $11.61 and a 1-year high of $25.87.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) 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 firm had revenue of $137.78 million during the quarter, compared to analysts’ expectations of $139.25 million. On average, equities research analysts expect that Fastly will post -1.07 EPS for the current fiscal year.

Insider Buying and Selling at Fastly

In other news, insider Artur Bergman sold 21,875 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.19, for a total value of $551,031.25. Following the transaction, the insider now owns 6,050,259 shares in the company, valued at approximately $152,406,024.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Artur Bergman sold 21,875 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.19, for a total value of $551,031.25. Following the completion of the sale, the insider now directly owns 6,050,259 shares of the company’s stock, valued at approximately $152,406,024.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ronald W. Kisling sold 12,235 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.09, for a total transaction of $196,861.15. Following the sale, the chief financial officer now directly owns 450,449 shares of the company’s stock, valued at $7,247,724.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,076 shares of company stock worth $3,620,434. Company insiders own 7.60% of the company’s stock.

Institutional Trading of Fastly

Several large investors have recently made changes to their positions in the company. Hanseatic Management Services Inc. purchased a new stake in Fastly in the 3rd quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Fastly in the 3rd quarter valued at $36,000. Allworth Financial LP lifted its stake in Fastly by 1,420.9% during the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after acquiring an additional 1,975 shares in the last quarter. Hollencrest Capital Management acquired a new position in Fastly during the 3rd quarter worth about $58,000. Finally, International Assets Investment Management LLC acquired a new position in Fastly during the 4th quarter worth about $61,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Company Profile

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.