Fastly, Inc. (NYSE:FSLY) Director Buys $63,750.00 in Stock

Fastly, Inc. (NYSE:FSLYGet Rating) Director Richard Devon Daniels bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was acquired at an average cost of $12.75 per share, for a total transaction of $63,750.00. Following the acquisition, the director now directly owns 31,014 shares of the company’s stock, valued at $395,428.50. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of FSLY stock traded up $0.99 during midday trading on Thursday, reaching $12.65. 4,706,352 shares of the company traded hands, compared to its average volume of 5,036,974. The firm’s 50 day simple moving average is $13.54 and its two-hundred day simple moving average is $21.79. Fastly, Inc. has a 1-year low of $9.50 and a 1-year high of $64.07. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.26 and a quick ratio of 5.26. The firm has a market cap of $1.53 billion, a PE ratio of -6.26 and a beta of 1.50.

Fastly (NYSE:FSLYGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). Fastly had a negative net margin of 63.54% and a negative return on equity of 20.82%. The company had revenue of $102.40 million for the quarter, compared to analyst estimates of $98.94 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. Fastly’s revenue was up 20.7% on a year-over-year basis. As a group, research analysts anticipate that Fastly, Inc. will post -1.89 earnings per share for the current fiscal year.

Several research firms recently commented on FSLY. Morgan Stanley dropped their target price on Fastly from $25.00 to $18.00 in a report on Thursday, May 5th. Citigroup dropped their target price on Fastly from $22.00 to $14.00 and set a “sell” rating on the stock in a report on Friday, May 6th. Finally, Bank of America dropped their target price on Fastly from $28.00 to $16.00 in a report on Tuesday, March 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Fastly currently has a consensus rating of “Hold” and an average target price of $25.13.

Several institutional investors and hedge funds have recently modified their holdings of FSLY. Verition Fund Management LLC purchased a new stake in Fastly in the 1st quarter worth approximately $272,000. Walleye Capital LLC grew its stake in Fastly by 413.2% in the 1st quarter. Walleye Capital LLC now owns 70,411 shares of the company’s stock worth $1,224,000 after acquiring an additional 56,690 shares during the period. Cantor Fitzgerald L. P. purchased a new stake in Fastly in the 1st quarter worth approximately $177,000. Virtu Financial LLC grew its stake in Fastly by 225.8% in the 1st quarter. Virtu Financial LLC now owns 23,641 shares of the company’s stock worth $411,000 after acquiring an additional 16,384 shares during the period. Finally, Alyeska Investment Group L.P. grew its stake in Fastly by 2.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 960,209 shares of the company’s stock worth $16,688,000 after acquiring an additional 24,517 shares during the period. 65.08% of the stock is owned by institutional investors and hedge funds.

About Fastly (Get Rating)

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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