Investors Purchase Large Volume of Call Options on Fastly (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the target of some unusual options trading activity on Monday. Investors bought 25,708 call options on the company. This is an increase of 55% compared to the typical daily volume of 16,611 call options.

Fastly Price Performance

NYSE:FSLY traded up $2.68 during trading hours on Monday, hitting $27.88. The company’s stock had a trading volume of 8,604,288 shares, compared to its average volume of 11,480,930. Fastly has a 52-week low of $4.65 and a 52-week high of $28.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The business’s 50-day moving average is $15.42 and its two-hundred day moving average is $11.62. The company has a market capitalization of $4.23 billion, a PE ratio of -29.07 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FSLY. Royal Bank Of Canada boosted their price target on Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. DA Davidson set a $13.00 target price on Fastly in a research note on Thursday, February 12th. Piper Sandler reissued a “neutral” rating and issued a $14.00 target price (up from $11.00) on shares of Fastly in a report on Thursday, February 12th. Citigroup upped their price target on Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Finally, KeyCorp raised Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price target for the company in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.14.

Insider Activity

In related news, CEO Charles Lacey Compton III sold 73,206 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $20.94, for a total transaction of $1,532,933.64. Following the completion of the sale, the chief executive officer owned 875,831 shares in the company, valued at $18,339,901.14. This represents a 7.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 275,234 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $20.56, for a total transaction of $5,658,811.04. Following the transaction, the chief technology officer directly owned 1,909,901 shares in the company, valued at $39,267,564.56. The trade was a 12.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,578,702 shares of company stock valued at $29,758,555 in the last ninety days. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fastly

Large investors have recently made changes to their positions in the stock. Amundi grew its holdings in Fastly by 11.3% in the first quarter. Amundi now owns 46,624 shares of the company’s stock valued at $277,000 after purchasing an additional 4,724 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Fastly in the 1st quarter worth about $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Fastly by 1.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock worth $2,950,000 after buying an additional 6,247 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Fastly by 963.6% in the 1st quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock valued at $385,000 after acquiring an additional 55,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Fastly by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after acquiring an additional 165,937 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.