Fastly (NYSE:FSLY) Hits New 12-Month Low at $8.17

Fastly, Inc. (NYSE:FSLYGet Rating)’s stock price reached a new 52-week low on Friday . The company traded as low as $8.17 and last traded at $8.21, with a volume of 21842 shares traded. The stock had previously closed at $8.44.

Analyst Ratings Changes

A number of analysts have recently weighed in on FSLY shares. Raymond James reduced their target price on shares of Fastly from $35.00 to $25.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 12th. Craig Hallum reduced their target price on shares of Fastly from $19.00 to $13.00 in a research report on Thursday, August 4th. Royal Bank of Canada cut shares of Fastly from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $17.50 to $9.00 in a research note on Tuesday, July 19th. Piper Sandler dropped their price target on shares of Fastly from $19.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 6th. Finally, Morgan Stanley cut shares of Fastly from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $18.00 to $12.00 in a research note on Monday, July 11th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.25.

Fastly Stock Down 3.3 %

The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.73. The firm has a market cap of $995.52 million, a P/E ratio of -4.94 and a beta of 1.43. The company’s 50 day simple moving average is $10.52 and its 200-day simple moving average is $13.03.

Insider Buying and Selling at Fastly

In other news, insider Artur Bergman sold 14,319 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $12.18, for a total transaction of $174,405.42. Following the completion of the sale, the insider now owns 6,726,628 shares of the company’s stock, valued at approximately $81,930,329.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Artur Bergman sold 14,319 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $12.18, for a total transaction of $174,405.42. Following the completion of the sale, the insider now owns 6,726,628 shares of the company’s stock, valued at approximately $81,930,329.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 5,083 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $12.02, for a total transaction of $61,097.66. Following the sale, the chief financial officer now directly owns 409,054 shares of the company’s stock, valued at approximately $4,916,829.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,622 shares of company stock worth $858,196. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC purchased a new stake in Fastly in the 1st quarter worth approximately $37,000. Penserra Capital Management LLC increased its holdings in Fastly by 50.0% in the 1st 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 in the last quarter. Captrust Financial Advisors increased its holdings in Fastly by 32.2% in the 1st quarter. Captrust Financial Advisors now owns 3,859 shares of the company’s stock worth $67,000 after acquiring an additional 941 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Fastly by 122.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,835 shares of the company’s stock worth $101,000 after acquiring an additional 3,210 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in Fastly during the 4th quarter valued at approximately $248,000. 65.42% of the stock is owned by hedge funds and other institutional investors.

Fastly Company Profile

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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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