Fastly, Inc. (NYSE:FSLY - Get Free Report)'s stock price dropped 4.5% during mid-day trading on Thursday . The stock traded as low as $9.93 and last traded at $10.05. Approximately 977,020 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 3,591,485 shares. The stock had previously closed at $10.52.
FSLY has been the topic of several recent analyst reports. Craig Hallum boosted their target price on shares of Fastly from $6.00 to $8.00 and gave the company a "hold" rating in a report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Fastly from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Robert W. Baird boosted their target price on Fastly from $7.00 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Raymond James lowered Fastly from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 1st. Finally, Morgan Stanley dropped their price objective on Fastly from $12.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $8.55.
View Our Latest Stock Analysis on Fastly
The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The business has a 50 day simple moving average of $8.18 and a two-hundred day simple moving average of $7.45. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -9.23 and a beta of 1.27.
Fastly (NYSE:FSLY - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.08. The firm had revenue of $137.21 million for the quarter, compared to analysts' expectations of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. Fastly's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.33) earnings per share. As a group, equities analysts anticipate that Fastly, Inc. will post -0.86 EPS for the current year.
In other news, CTO Artur Bergman sold 29,641 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $10.02, for a total value of $297,002.82. Following the completion of the sale, the chief technology officer now directly owns 6,058,595 shares in the company, valued at approximately $60,707,121.90. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 16,102 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $100,637.50. Following the transaction, the chief financial officer now directly owns 542,462 shares in the company, valued at $3,390,387.50. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,241 shares of company stock valued at $1,699,684 over the last ninety days. Insiders own 6.70% of the company's stock.
A number of institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its stake in Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company's stock valued at $9,867,000 after buying an additional 1,293,490 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of 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 purchasing an additional 801,968 shares during the period. Point72 Asset Management L.P. grew its holdings in Fastly by 461.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company's stock valued at $5,575,000 after buying an additional 621,680 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Fastly during the second quarter worth about $1,233,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Fastly by 18.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company's stock valued at $8,006,000 after buying an additional 161,070 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.
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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