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

Fastly, Inc. (NYSE:FSLY) has been given a consensus rating of “Reduce” by the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.55.

Several equities research analysts recently weighed in on the company. Oppenheimer started coverage on Fastly in a report on Thursday, March 20th. They set a “market perform” rating on the stock. Citigroup upped their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Finally, Royal Bank of Canada decreased their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 31,551 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $10.31, for a total value of $325,290.81. Following the completion of the sale, the chief technology officer now owns 3,394,136 shares of the company’s stock, valued at approximately $34,993,542.16. This trade represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ronald W. Kisling sold 12,500 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $125,000.00. Following the sale, the chief financial officer now owns 525,850 shares of the company’s stock, valued at $5,258,500. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,699 shares of company stock worth $1,561,990. 6.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fastly

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Fastly by 17.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,124 shares of the company’s stock worth $2,484,000 after purchasing an additional 39,782 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in Fastly by 1.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,104,497 shares of the company’s stock valued at $19,866,000 after acquiring an additional 33,885 shares in the last quarter. Vident Advisory LLC boosted its holdings in Fastly by 190.2% during the 4th quarter. Vident Advisory LLC now owns 32,878 shares of the company’s stock worth $310,000 after acquiring an additional 21,549 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Fastly by 226.2% in the 4th quarter. Two Sigma Advisers LP now owns 418,500 shares of the company’s stock worth $3,951,000 after acquiring an additional 290,200 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Fastly by 179.3% in the fourth quarter. Two Sigma Investments LP now owns 1,101,329 shares of the company’s stock valued at $10,397,000 after purchasing an additional 707,053 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Stock Performance

NYSE:FSLY opened at $5.16 on Friday. Fastly has a twelve month low of $5.01 and a twelve month high of $14.12. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $7.82 and its 200 day simple moving average is $8.23. The firm has a market capitalization of $733.56 million, a PE ratio of -4.52 and a beta of 1.43.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. On average, analysts anticipate that Fastly will post -0.78 EPS for the current fiscal year.

Fastly Company Profile

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.