Investors Purchase High Volume of Fastly Call Options (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) saw unusually large options trading on Monday. Traders purchased 25,708 call options on the stock. This is an increase of approximately 55% compared to the average daily volume of 16,611 call options.

Analysts Set New Price Targets

Several equities analysts have recently commented on FSLY shares. DA Davidson set a $13.00 price objective on shares of Fastly in a report on Thursday, February 12th. Piper Sandler reiterated a “neutral” rating and issued a $14.00 target price (up from $11.00) on shares of Fastly in a report on Thursday, February 12th. KeyCorp raised Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a research report on Monday, December 15th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada raised their price target on Fastly from $12.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.14.

Insider Buying and Selling at Fastly

In other news, insider Scott R. Lovett sold 41,682 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $26.45, for a total value of $1,102,488.90. Following the transaction, the insider owned 1,503,878 shares of the company’s stock, valued at $39,777,573.10. This represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Artur Bergman sold 265,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $22.79, for a total transaction of $6,039,350.00. Following the completion of the sale, the chief technology officer owned 1,604,901 shares in the company, valued at approximately $36,575,693.79. This trade represents a 14.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,578,702 shares of company stock worth $29,758,555 over the last quarter. 6.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fastly

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

Fastly Stock Up 14.1%

Shares of NYSE:FSLY opened at $28.75 on Tuesday. The firm has a market capitalization of $4.36 billion, a PE ratio of -29.95 and a beta of 0.88. Fastly has a 1 year low of $4.65 and a 1 year high of $28.79. 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 firm’s 50-day moving average is $15.81 and its two-hundred day moving average is $11.78.

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.