Fastly, Inc. (NYSE:FSLY – Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 7,980,000 shares, a decrease of 14.1% from the November 30th total of 9,290,000 shares. Based on an average daily trading volume, of 2,700,000 shares, the days-to-cover ratio is currently 3.0 days.
Fastly Stock Down 3.6 %
NYSE:FSLY traded down $0.67 during trading hours on Monday, hitting $17.80. The company had a trading volume of 2,793,500 shares, compared to its average volume of 3,340,421. The stock has a 50-day moving average price of $17.14 and a 200 day moving average price of $18.05. Fastly has a 52 week low of $7.88 and a 52 week high of $24.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.85 and a current ratio of 3.85.
Fastly (NYSE:FSLY – Get Free Report) last announced its earnings results on Wednesday, November 1st. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.04. Fastly had a negative net margin of 32.07% and a negative return on equity of 16.89%. The firm had revenue of $127.82 million for the quarter, compared to analysts’ expectations of $126.21 million. Equities analysts anticipate that Fastly will post -1.2 earnings per share for the current year.
Insider Transactions at Fastly
In related news, insider Artur Bergman sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $15.45, for a total value of $270,375.00. Following the sale, the insider now directly owns 6,123,424 shares of the company’s stock, valued at $94,606,900.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Artur Bergman sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $15.45, for a total value of $270,375.00. Following the sale, the insider now directly owns 6,123,424 shares of the company’s stock, valued at $94,606,900.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Nightingale sold 233,270 shares of Fastly stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $16.24, for a total transaction of $3,788,304.80. Following the transaction, the chief executive officer now directly owns 1,422,056 shares in the company, valued at $23,094,189.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 656,768 shares of company stock valued at $10,911,631. 7.60% of the stock is currently owned by corporate insiders.
Institutional Trading of Fastly
A number of hedge funds have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new position in shares of Fastly in the 2nd quarter worth about $29,000. Meeder Asset Management Inc. raised its position in shares of Fastly by 13,926.9% in the 4th quarter. Meeder Asset Management Inc. now owns 3,647 shares of the company’s stock worth $30,000 after purchasing an additional 3,621 shares during the last quarter. Hanseatic Management Services Inc. purchased a new position in shares of Fastly in the 3rd quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Fastly in the 3rd quarter worth about $36,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Fastly in the 1st quarter worth about $37,000. Institutional investors own 65.65% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Raymond James reissued a “strong-buy” rating and set a $25.00 price target on shares of Fastly in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Fastly currently has an average rating of “Hold” and an average price target of $17.65.
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.