Insider Selling: Fastly, Inc. (NYSE:FSLY) CEO Sells $76,018.75 in Stock

Fastly, Inc. (NYSE:FSLY) CEO Todd Nightingale sold 12,163 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $6.25, for a total transaction of $76,018.75. Following the completion of the transaction, the chief executive officer now owns 1,650,789 shares of the company’s stock, valued at approximately $10,317,431.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Friday, August 16th, Todd Nightingale sold 66,066 shares of Fastly stock. The stock was sold at an average price of $6.18, for a total value of $408,287.88.

Fastly Trading Up 4.9 %

Shares of FSLY stock opened at $6.08 on Friday. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.35. The stock has a 50-day simple moving average of $7.11 and a 200 day simple moving average of $10.13. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The stock has a market capitalization of $830.08 million, a P/E ratio of -6.09 and a beta of 1.13.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The company had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. During the same quarter last year, the firm posted ($0.32) EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Fastly, Inc. will post -1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on FSLY shares. Citigroup lowered their target price on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Craig Hallum lowered their price target on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Morgan Stanley reduced their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday. Bank of America cut shares of Fastly from a “buy” rating to an “underperform” rating and lowered their target price for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd. Finally, Raymond James dropped their price target on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.81.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in shares of Fastly during the 2nd quarter valued at $38,000. Cambridge Trust Co. acquired a new stake in shares of Fastly during the first quarter worth $39,000. Cape Investment Advisory Inc. lifted its holdings in shares of Fastly by 27,666.7% during the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after purchasing an additional 4,150 shares during the last quarter. EMC Capital Management boosted its position in shares of Fastly by 400.0% in the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after purchasing an additional 6,000 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Fastly in the 4th quarter worth about $61,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.