Fastly, Inc. (NYSE:FSLY) Given Consensus Rating of “Hold” by Analysts

Fastly, Inc. (NYSE:FSLY) has earned an average recommendation of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $13.1429.

FSLY has been the subject of several analyst reports. DA Davidson set a $13.00 price target on shares of Fastly in a research report on Thursday, February 12th. KeyCorp upgraded Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective on the stock in a report on Monday, December 15th. Citigroup boosted their target price on Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Piper Sandler restated a “neutral” rating and set a $14.00 target price (up from $11.00) on shares of Fastly in a report on Thursday, February 12th. Finally, William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th.

Fastly Price Performance

FSLY stock opened at $29.79 on Friday. The firm has a market cap of $4.52 billion, a P/E ratio of -31.03 and a beta of 0.88. The firm’s fifty day moving average is $16.60 and its 200 day moving average is $12.05. Fastly has a 52 week low of $4.65 and a 52 week high of $30.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Insiders Place Their Bets

In other Fastly news, insider Scott R. Lovett sold 41,682 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $26.45, for a total value of $1,102,488.90. Following the transaction, the insider owned 1,503,878 shares in the company, valued at approximately $39,777,573.10. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Artur Bergman sold 265,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $22.79, for a total transaction of $6,039,350.00. Following the transaction, the chief technology officer directly owned 1,604,901 shares of the company’s stock, valued at approximately $36,575,693.79. This trade represents a 14.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,578,702 shares of company stock valued at $29,758,555 in the last quarter. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi grew its position in shares of Fastly by 11.3% in the 1st quarter. Amundi now owns 46,624 shares of the company’s stock worth $277,000 after buying an additional 4,724 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Fastly during the first quarter valued at approximately $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Fastly by 1.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock valued at $2,950,000 after acquiring an additional 6,247 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Fastly by 963.6% in the first quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock worth $385,000 after acquiring an additional 55,118 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Fastly by 7.8% in the first 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. Institutional investors own 79.71% of the company’s stock.

Fastly Company Profile

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.