Fastly (NASDAQ:FSLY) Shares Climb 4.9% – Here’s What Happened

Shares of Fastly, Inc. (NASDAQ:FSLY) rose 4.9% during mid-day trading on Tuesday. The stock traded as high as $28.28 and last traded at $27.7180. Approximately 937,542 shares changed hands during trading, a decline of 90% from the average daily volume of 9,132,779 shares. The stock had previously closed at $26.43.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FSLY. Piper Sandler upped their price objective on Fastly from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Freedom Capital raised Fastly to a “strong-buy” rating in a report on Thursday, July 16th. Evercore reissued an “outperform” rating on shares of Fastly in a report on Wednesday, September 23rd. Canaccord Genuity Group initiated coverage on Fastly in a research report on Friday, July 17th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.42.

Fastly Stock Up 1.5%

The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.36 and a current ratio of 3.36. The stock’s 50 day moving average price is $24.88 and its 200-day moving average price is $22.73. The company has a market cap of $4.27 billion, a PE ratio of -50.64 and a beta of 0.31.

Fastly (NASDAQ:FSLY) last issued its earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. The company had revenue of $183.32 million for the quarter, compared to analysts’ expectations of $173.94 million. Fastly had a negative net margin of 11.80% and a negative return on equity of 6.31%. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. On average, analysts predict that Fastly, Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling at Fastly

In other news, insider Scott R. Lovett sold 41,815 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $24.64, for a total value of $1,030,321.60. Following the completion of the sale, the insider owned 1,281,583 shares of the company’s stock, valued at approximately $31,578,205.12. The trade was a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Ford sold 45,832 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $24.65, for a total value of $1,129,758.80. Following the sale, the insider owned 249,861 shares of the company’s stock, valued at $6,159,073.65. This represents a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,243,371 shares of company stock worth $33,335,165 over the last three months. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its stake in shares of Fastly by 100.5% during the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock valued at $204,349,000 after purchasing an additional 3,524,763 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Fastly by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,741,549 shares of the company’s stock worth $79,620,000 after purchasing an additional 11,022 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Fastly by 120.0% in the first quarter. Bank of America Corp DE now owns 1,269,369 shares of the company’s stock worth $36,888,000 after purchasing an additional 692,459 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Fastly by 90.7% in the first quarter. SG Americas Securities LLC now owns 685,415 shares of the company’s stock worth $19,918,000 after buying an additional 326,087 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Fastly in the second quarter worth $8,696,000. Institutional investors own 79.71% of the company’s stock.

About Fastly

Fastly, Inc (NASDAQ: FSLY) is a technology company that provides an edge cloud platform designed to help businesses deliver, secure and operate digital applications and content closer to end users. Its platform supports websites, mobile applications, APIs, streaming media and other internet services by processing data at the edge of the network, helping organizations improve performance, scalability and reliability.

Fastly’s products and services include content delivery, edge computing, application programming interface (API) services, cloud security and observability tools.