Fastly, Inc. (NYSE:FSLY – Get Rating) reached a new 52-week low during trading on Friday . The company traded as low as $8.17 and last traded at $8.21, with a volume of 21842 shares changing hands. The stock had previously closed at $8.44.
Analyst Ratings Changes
FSLY has been the topic of a number of recent analyst reports. Morgan Stanley downgraded shares of Fastly from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $18.00 to $12.00 in a research report on Monday, July 11th. Piper Sandler dropped their target price on shares of Fastly from $19.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 6th. Royal Bank of Canada downgraded shares of Fastly from a "sector perform" rating to an "underperform" rating and dropped their target price for the company from $17.50 to $9.00 in a research report on Tuesday, July 19th. Raymond James dropped their target price on shares of Fastly from $35.00 to $25.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 12th. Finally, DA Davidson dropped their target price on shares of Fastly to $12.00 in a research report on Tuesday, August 9th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.25.
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Fastly Price Performance
The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.11 and a current ratio of 4.11. The company has a market capitalization of $1.02 billion, a PE ratio of -5.08 and a beta of 1.43. The company's 50-day simple moving average is $10.46 and its 200-day simple moving average is $12.96.
Insiders Place Their Bets
In other news, CEO Joshua Bixby sold 18,652 shares of the firm's stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $11.97, for a total value of $223,264.44. Following the completion of the sale, the chief executive officer now owns 591,630 shares in the company, valued at approximately $7,081,811.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through
this hyperlink. In other news, CFO Ronald W. Kisling sold 5,083 shares of the firm's 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 completion of the sale, the chief financial officer now owns 409,054 shares in the company, valued at approximately $4,916,829.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through
this hyperlink. Also, CEO Joshua Bixby sold 18,652 shares of the firm's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $11.97, for a total transaction of $223,264.44. Following the completion of the sale, the chief executive officer now owns 591,630 shares of the company's stock, valued at approximately $7,081,811.10. The disclosure for this sale can be found
here. In the last three months, insiders have sold 72,622 shares of company stock valued at $858,196. Insiders own 8.90% of the company's stock.
Institutional Trading of Fastly
Hedge funds have recently made changes to their positions in the company. MetLife Investment Management LLC acquired a new stake in shares of Fastly in the first quarter valued at about $37,000. Penserra Capital Management LLC lifted its stake in shares of Fastly by 50.0% in the first quarter. Penserra Capital Management LLC now owns 3,072 shares of the company's stock valued at $53,000 after purchasing an additional 1,024 shares during the period. Captrust Financial Advisors lifted its stake in shares of Fastly by 32.2% in the first quarter. Captrust Financial Advisors now owns 3,859 shares of the company's stock valued at $67,000 after purchasing an additional 941 shares during the period. Calixto Global Investors LP acquired a new stake in shares of Fastly in the fourth quarter valued at about $86,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Fastly by 122.3% in the first quarter. Geneos Wealth Management Inc. now owns 5,835 shares of the company's stock valued at $101,000 after purchasing an additional 3,210 shares during the period. Institutional investors and hedge funds own 65.42% of the company's stock.
About Fastly
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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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