Todd Nightingale Sells 49,816 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 49,816 shares of Fastly stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $311,350.00. Following the transaction, the chief executive officer now owns 1,600,973 shares of the company’s stock, valued at $10,006,081.25. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Todd Nightingale also recently made the following trade(s):

• On Friday, August 23rd, Todd Nightingale sold 12,163 shares of Fastly stock. The shares were sold at an average price of $6.25, for a total transaction of $76,018.75.

Fastly Price Performance

NYSE:FSLY opened at $7.56 on Friday. 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 business’s 50-day simple moving average is $7.27 and its two-hundred day simple moving average is $7.30. The stock has a market cap of $1.06 billion, a PE ratio of -6.94 and a beta of 1.24. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $131.86 million. During the same period last year, the firm earned ($0.33) earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, analysts forecast that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Fastly

Large investors have recently made changes to their positions in the company. Bank of Montreal Can increased its stake 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 acquiring an additional 1,293,490 shares during the last quarter. Penserra Capital Management LLC increased its stake in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after acquiring an additional 801,968 shares during the last quarter. Vanguard Group Inc. increased its stake in Fastly by 5.1% during the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after acquiring an additional 657,334 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Fastly by 461.5% during the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after acquiring an additional 621,680 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after acquiring an additional 466,560 shares during the last quarter. 79.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on FSLY. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Royal Bank of Canada lifted their target price on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. DA Davidson lifted their target price on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler lifted their target price on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Craig Hallum lifted their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.94.

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.