Investment analysts at William Blair assumed coverage on shares of Fastly (NYSE:FSLY – Get Rating) in a research note issued on Wednesday, The Fly reports. The brokerage set a “market perform” rating on the stock.
Several other research firms have also recently issued reports on FSLY. Credit Suisse Group raised their price objective on Fastly from $9.50 to $11.50 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Morgan Stanley raised their price objective on Fastly from $9.00 to $12.00 and gave the stock an “underweight” rating in a report on Thursday, February 16th. Craig Hallum upgraded Fastly from a “hold” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $17.00 in a report on Thursday, February 16th. Robert W. Baird raised their price objective on Fastly from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Finally, Piper Sandler raised their price objective on Fastly from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Fastly has a consensus rating of “Hold” and a consensus price target of $15.40.
Fastly Stock Performance
Fastly stock opened at $16.43 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.18 and a current ratio of 4.18. The stock has a fifty day moving average of $15.11 and a two-hundred day moving average of $11.19. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -10.40 and a beta of 1.31. Fastly has a fifty-two week low of $7.15 and a fifty-two week high of $19.56.
Insider Activity at Fastly
In related news, EVP Brett Shirk sold 3,943 shares of Fastly stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $13.93, for a total value of $54,925.99. Following the transaction, the executive vice president now owns 224,097 shares in the company, valued at $3,121,671.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastly news, insider Artur Bergman sold 56,769 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $15.74, for a total value of $893,544.06. Following the transaction, the insider now directly owns 6,655,114 shares of the company’s stock, valued at $104,751,494.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brett Shirk sold 3,943 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $13.93, for a total value of $54,925.99. Following the completion of the transaction, the executive vice president now directly owns 224,097 shares in the company, valued at $3,121,671.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 248,191 shares of company stock worth $3,749,197. 8.90% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its position in shares of Fastly by 13,926.9% during the fourth quarter. Meeder Asset Management Inc. now owns 3,647 shares of the company’s stock worth $30,000 after acquiring an additional 3,621 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Fastly during the first quarter worth about $37,000. Signaturefd LLC increased its position in shares of Fastly by 78.5% during the fourth quarter. Signaturefd LLC now owns 4,677 shares of the company’s stock worth $38,000 after acquiring an additional 2,057 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Fastly by 482.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 6,404 shares of the company’s stock worth $52,000 after acquiring an additional 5,304 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of Fastly by 50.0% during the first quarter. Penserra Capital Management LLC now owns 3,072 shares of the company’s stock worth $53,000 after acquiring an additional 1,024 shares during the last quarter. 60.74% of the stock is owned by hedge funds and other institutional investors.
Fastly Company Profile
Fastly, Inc provides real-time content delivery network services. It offers edge compute, edge delivery, edge security, edge applications like load balancing and image optimization, video on demand, and managed edge delivery. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.
Featured Articles
- Get a free copy of the StockNews.com research report on Fastly (FSLY)
- ASML Reports Massive Growth, Management Points To Sluggish 2023
- Will Analyst Boost Send Lockheed Martin Shares Up, Up and Away?
- Mullen Automotive: Is The Bloom Off The Rose?
- Diversified Abbott Laboratories Could Reverse And Move Higher
- Okta Reversal In Progress While Catalysts Approach
Receive News & Ratings for Fastly Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastly and related companies with MarketBeat.com's FREE daily email newsletter.
