Fastly, Inc. (NYSE:FSLY) Given Average Rating of “Hold” by Brokerages

Shares of Fastly, Inc. (NYSE:FSLY) have earned an average rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $12.00.

FSLY has been the topic of several recent research reports. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Piper Sandler reiterated a “neutral” rating and issued a $14.00 price objective (up previously from $11.00) on shares of Fastly in a report on Thursday, February 12th. Citigroup raised their target price on Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. KeyCorp upgraded Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price for the company in a research report on Monday, December 15th. Finally, Wall Street Zen upgraded shares of Fastly from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th.

Insider Buying and Selling at Fastly

In other Fastly news, CEO Charles Lacey Compton III sold 14,797 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $18.88, for a total value of $279,367.36. Following the sale, the chief executive officer directly owned 584,519 shares in the company, valued at approximately $11,035,718.72. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Artur Bergman sold 39,881 shares of Fastly stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $18.89, for a total transaction of $753,352.09. Following the transaction, the chief technology officer directly owned 1,842,532 shares in the company, valued at approximately $34,805,429.48. This represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 923,524 shares of company stock valued at $12,622,618. Corporate insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Align Financial LLC bought a new stake in shares of Fastly in the fourth quarter worth about $41,000. Byrne Asset Management LLC acquired a new position in shares of Fastly in the 3rd quarter valued at approximately $43,000. Quarry LP bought a new stake in Fastly during the 3rd quarter worth approximately $49,000. Geneos Wealth Management Inc. acquired a new stake in Fastly during the 1st quarter worth approximately $52,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Fastly in the fourth quarter valued at approximately $54,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Fastly Trading Down 6.0%

Shares of NYSE FSLY opened at $17.00 on Tuesday. Fastly has a fifty-two week low of $4.65 and a fifty-two week high of $20.27. The firm has a market capitalization of $2.54 billion, a P/E ratio of -17.71 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The company’s 50 day simple moving average is $10.93 and its 200 day simple moving average is $9.65.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.