Fastly (NYSE:FSLY) Now Covered by Analysts at Oppenheimer

Oppenheimer started coverage on shares of Fastly (NYSE:FSLY) in a report released on Thursday. The firm issued a market perform rating on the stock.

Other research analysts also recently issued research reports about the stock. Citigroup lifted their price objective on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Finally, Royal Bank of Canada cut their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.55.

Fastly Trading Up 1.8 %

Shares of FSLY opened at $7.13 on Thursday. Fastly has a 1-year low of $5.52 and a 1-year high of $14.12. The company has a 50-day moving average of $8.43 and a 200 day moving average of $8.22. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.25 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate 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, research analysts expect that Fastly will post -0.78 EPS for the current year.

Insider Buying and Selling at Fastly

In other news, CEO Todd Nightingale sold 35,509 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the sale, the chief executive officer now directly owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Artur Bergman sold 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.09, for a total value of $100,900.00. Following the completion of the sale, the chief technology officer now owns 3,434,136 shares in the company, valued at approximately $34,650,432.24. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,699 shares of company stock worth $1,587,050 over the last three months. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Several large investors have recently bought and sold shares of FSLY. AlphaQuest LLC increased its holdings in Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after buying an additional 2,960 shares during the last quarter. FMR LLC increased its holdings in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after buying an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in Fastly in the fourth quarter valued at $72,000. Finally, Canada Pension Plan Investment Board purchased a new position in Fastly in the fourth quarter valued at $82,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.