Fastly, Inc. (NYSE:FSLY – Get Rating) has earned a consensus recommendation of "Hold" from the ten research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $14.25.
A number of analysts recently commented on FSLY shares. Morgan Stanley cut shares of Fastly from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $18.00 to $12.00 in a research note on Monday, July 11th. Raymond James dropped their price target on shares of Fastly from $35.00 to $25.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 12th. Craig Hallum dropped their price target on shares of Fastly from $19.00 to $13.00 in a research note on Thursday, August 4th. DA Davidson dropped their price target on shares of Fastly to $12.00 in a research note on Tuesday, August 9th. Finally, Royal Bank of Canada cut shares of Fastly from a "sector perform" rating to an "underperform" rating and dropped their price target for the company from $17.50 to $9.00 in a research note on Tuesday, July 19th.
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Fastly Stock Down 3.5 %
Fastly stock opened at $8.44 on Friday. Fastly has a twelve month low of $8.27 and a twelve month high of $58.62. The firm has a 50 day moving average price of $10.52 and a 200-day moving average price of $13.03. The company has a market capitalization of $1.03 billion, a P/E ratio of -5.12 and a beta of 1.43. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.73.
Insider Transactions at Fastly
In other news, CFO Ronald W. Kisling sold 5,083 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $12.02, for a total value of $61,097.66. Following the transaction, the chief financial officer now owns 409,054 shares of the company's stock, valued at approximately $4,916,829.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through
this link. In related news, EVP Brett Shirk sold 7,000 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $9.92, for a total transaction of $69,440.00. Following the transaction, the executive vice president now owns 263,244 shares of the company's stock, valued at approximately $2,611,380.48. The transaction was disclosed in a legal filing with the SEC, which is available through
the SEC website. Also, CFO Ronald W. Kisling sold 5,083 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $12.02, for a total transaction of $61,097.66. Following the transaction, the chief financial officer now directly owns 409,054 shares in the company, valued at approximately $4,916,829.08. The disclosure for this sale can be found
here. Insiders have sold 72,622 shares of company stock valued at $858,196 in the last quarter. Insiders own 8.90% of the company's stock.
Hedge Funds Weigh In On Fastly
Institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC bought a new position in shares of Fastly during the 1st quarter valued at $37,000. Penserra Capital Management LLC grew its holdings in Fastly by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 3,072 shares of the company's stock worth $53,000 after acquiring an additional 1,024 shares during the last quarter. Captrust Financial Advisors grew its holdings in Fastly by 32.2% in the 1st quarter. Captrust Financial Advisors now owns 3,859 shares of the company's stock worth $67,000 after acquiring an additional 941 shares during the last quarter. Calixto Global Investors LP bought a new stake in Fastly in the 4th quarter worth $86,000. Finally, Geneos Wealth Management Inc. grew its holdings in Fastly by 122.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,835 shares of the company's stock worth $101,000 after acquiring an additional 3,210 shares during the last quarter. Institutional investors own 65.42% of the company's stock.
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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