Shares of Fastly, Inc. (NYSE:FSLY – Get Rating) reached a new 52-week low during mid-day trading 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.
Wall Street Analyst Weigh In
FSLY has been the subject of a number of research analyst reports. Craig Hallum lowered their price objective 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 lowered their price objective for the stock from $17.50 to $9.00 in a research report on Tuesday, July 19th. DA Davidson lowered their price objective on shares of Fastly to $12.00 in a research report on Tuesday, August 9th. Morgan Stanley cut shares of Fastly from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $18.00 to $12.00 in a research report on Monday, July 11th. Finally, Piper Sandler lowered their price objective on shares of Fastly from $19.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, July 6th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.25.
Fastly Stock Performance
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 company’s 50-day simple moving average is $10.52 and its 200-day simple moving average is $13.03. The stock has a market capitalization of $995.52 million, a price-to-earnings ratio of -4.94 and a beta of 1.43.
Insider Transactions at Fastly
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. bought a new position in shares of Fastly in the fourth quarter valued at $248,000. JPMorgan Chase & Co. lifted its stake in shares of Fastly by 73.8% in the fourth quarter. JPMorgan Chase & Co. now owns 280,224 shares of the company’s stock valued at $9,934,000 after buying an additional 118,996 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Fastly by 2.4% in the fourth quarter. Rhumbline Advisers now owns 94,190 shares of the company’s stock valued at $3,339,000 after buying an additional 2,198 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in shares of Fastly in the fourth quarter valued at $927,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Fastly by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 825,626 shares of the company’s stock valued at $29,269,000 after buying an additional 20,766 shares in the last quarter. 65.42% of the stock is owned by institutional investors.
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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