Stock Traders Buy High Volume of Call Options on Fastly (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) saw some unusual options trading activity on Thursday. Traders bought 14,505 call options on the company. This is an increase of approximately 64% compared to the typical daily volume of 8,821 call options.

Insider Buying and Selling at Fastly

In related news, CFO Ronald W. Kisling sold 12,500 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $125,000.00. Following the transaction, the chief financial officer now owns 525,850 shares of the company’s stock, valued at approximately $5,258,500. This represents a 2.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value of $40,834.00. Following the transaction, the chief technology officer now owns 3,444,136 shares of the company’s stock, valued at $41,364,073.36. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,152 shares of company stock valued at $2,287,883 over the last 90 days. 6.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FSLY. Bank of Montreal Can increased its position in Fastly by 11,140.2% during the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after buying an additional 1,293,490 shares during the period. Marshall Wace LLP purchased a new position in shares of Fastly during the fourth quarter worth approximately $7,618,000. Penserra Capital Management LLC increased its holdings in shares of Fastly by 18.8% in the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after acquiring an additional 801,968 shares during the period. Alliancebernstein L.P. raised its position in Fastly by 402.8% in the 4th quarter. Alliancebernstein L.P. now owns 844,349 shares of the company’s stock valued at $7,971,000 after purchasing an additional 676,408 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Fastly during the 4th quarter worth $3,717,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Stock Down 20.9 %

Fastly stock opened at $7.97 on Friday. The stock has a market cap of $1.12 billion, a PE ratio of -7.31 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock’s fifty day moving average is $10.03 and its two-hundred day moving average is $8.11. Fastly has a 1-year low of $5.52 and a 1-year high of $23.68.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. On average, sell-side analysts expect that Fastly will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FSLY shares. Citigroup raised their price objective on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. 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. Robert W. Baird boosted their price target on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum increased their price objective on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.55.

About Fastly

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.