Fastly Target of Unusually Large Options Trading (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) was the recipient of some unusual options trading on Wednesday. Traders bought 29,107 call options on the company. This represents an increase of 125% compared to the typical daily volume of 12,949 call options.

Insider Activity

In other Fastly news, CFO Ronald W. Kisling sold 7,486 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total transaction of $97,318.00. Following the completion of the transaction, the chief financial officer now owns 632,736 shares of the company’s stock, valued at $8,225,568. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastly news, CFO Ronald W. Kisling sold 7,486 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total transaction of $97,318.00. Following the transaction, the chief financial officer now directly owns 632,736 shares in the company, valued at $8,225,568. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $12.92, for a total value of $155,040.00. Following the completion of the sale, the chief financial officer now owns 640,222 shares in the company, valued at $8,271,668.24. The disclosure for this sale can be found here. Insiders have sold 221,076 shares of company stock worth $3,620,434 in the last ninety days. Company insiders own 7.60% of the company’s stock.

Institutional Trading of Fastly

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hanseatic Management Services Inc. acquired a new position in shares of Fastly in the 3rd quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Fastly during the 3rd quarter valued at $36,000. Allworth Financial LP increased its position in shares of Fastly by 1,420.9% in the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after purchasing an additional 1,975 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of Fastly in the 3rd quarter worth about $58,000. Finally, Strs Ohio acquired a new stake in shares of Fastly in the 3rd quarter valued at about $65,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Price Performance

Fastly stock traded down $0.19 during mid-day trading on Wednesday, hitting $12.70. 1,673,814 shares of the company were exchanged, compared to its average volume of 3,858,914. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. Fastly has a 12-month low of $11.61 and a 12-month high of $25.87. The business’s 50 day simple moving average is $13.69 and its two-hundred day simple moving average is $16.40. The company has a market capitalization of $1.70 billion, a P/E ratio of -12.39 and a beta of 1.22.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. The firm had revenue of $137.78 million during the quarter, compared to the consensus estimate of $139.25 million. Analysts forecast that Fastly will post -1.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Bank of America reduced their target price on Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research report on Thursday, February 15th. Piper Sandler raised Fastly from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $19.00 to $16.00 in a research note on Monday, April 8th. Royal Bank of Canada raised Fastly from an “underperform” rating to a “sector perform” rating and raised their price objective for the company from $12.00 to $18.00 in a research note on Monday, January 8th. Finally, Citigroup upgraded Fastly from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $11.00 to $20.00 in a research report on Monday, January 22nd. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fastly has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

Fastly Company Profile

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.