Ronald W. Kisling Sells 12,000 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLYGet Free Report) CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $7.27, for a total transaction of $87,240.00. Following the sale, the chief financial officer now owns 593,506 shares in the company, valued at $4,314,788.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Fastly Trading Up 3.2 %

Shares of FSLY stock opened at $7.40 on Friday. The firm has a 50-day moving average price of $8.40 and a 200 day moving average price of $13.52. Fastly, Inc. has a twelve month low of $6.77 and a twelve month high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83.

Fastly (NYSE:FSLYGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The firm had revenue of $133.52 million during the quarter, compared to the consensus estimate of $133.01 million. As a group, equities research analysts expect that Fastly, Inc. will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. raised its stake in Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after purchasing an additional 4,150 shares during the last quarter. Cambridge Trust Co. acquired a new position in shares of Fastly during the 1st quarter valued at about $39,000. Vista Investment Partners LLC acquired a new position in shares of Fastly during the 1st quarter valued at about $1,107,000. Price T Rowe Associates Inc. MD increased its stake in shares of Fastly by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,371 shares of the company’s stock valued at $1,069,000 after acquiring an additional 4,498 shares during the last quarter. Finally, EntryPoint Capital LLC increased its stake in shares of Fastly by 41.1% during the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock valued at $73,000 after acquiring an additional 1,643 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank of Canada decreased their target price on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 2nd. Citigroup decreased their target price on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Piper Sandler upgraded shares of 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. DA Davidson lowered shares of Fastly from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $8.50 in a research report on Thursday, May 2nd. Finally, Bank of America downgraded Fastly from a “buy” rating to an “underperform” rating and cut their price target for the stock from $18.00 to $8.00 in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.44.

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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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