Fastly (NYSE:FSLY) PT Lowered to $15.00 at Citigroup

Fastly (NYSE:FSLY) had its price target lowered by Citigroup from $20.00 to $15.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Craig Hallum downgraded shares of Fastly from a buy rating to a hold rating and set a $20.00 price target on the stock. in a report on Thursday, February 15th. Bank of America dropped their price objective on shares of Fastly from $28.00 to $18.00 and set a buy rating on the stock in a report on Thursday, March 28th. Piper Sandler raised shares of Fastly from a neutral rating to an overweight rating and dropped their price objective for the stock from $19.00 to $16.00 in a report on Monday, April 8th. Finally, Royal Bank of Canada raised shares of Fastly from an underperform rating to a sector perform rating and raised their price objective for the stock from $12.00 to $18.00 in a report on Monday, January 8th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Fastly currently has a consensus rating of Moderate Buy and a consensus target price of $18.56.

Fastly Stock Up 4.0 %

FSLY stock traded up $0.49 during trading on Thursday, hitting $12.89. 2,386,729 shares of the stock traded hands, compared to its average volume of 3,865,509. Fastly has a 1 year low of $11.61 and a 1 year high of $25.87. The firm’s 50 day moving average is $13.39 and its two-hundred day moving average is $16.35. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -11.92 and a beta of 1.22. 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 (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The firm had revenue of $137.78 million for the quarter, compared to the consensus estimate of $139.25 million. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. On average, sell-side analysts anticipate that Fastly will post -1.07 EPS for the current year.

Insider Activity

In other news, CEO Todd Nightingale sold 50,708 shares of Fastly stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.09, for a total transaction of $815,891.72. Following the sale, the chief executive officer now owns 1,371,348 shares in the company, valued at $22,064,989.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Todd Nightingale sold 50,708 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.09, for a total value of $815,891.72. Following the completion of the transaction, the chief executive officer now directly owns 1,371,348 shares of the company’s stock, valued at $22,064,989.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Artur Bergman sold 21,875 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.19, for a total transaction of $551,031.25. Following the completion of the transaction, the insider now directly owns 6,050,259 shares of the company’s stock, valued at $152,406,024.21. The disclosure for this sale can be found here. Insiders have sold a total of 221,076 shares of company stock worth $3,620,434 over the last quarter. Insiders own 7.60% of the company’s stock.

Institutional Trading of Fastly

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Fastly by 2.7% in the third quarter. Arizona State Retirement System now owns 32,544 shares of the company’s stock worth $624,000 after purchasing an additional 844 shares in the last quarter. Laird Norton Trust Company LLC raised its holdings in Fastly by 1.9% in the third quarter. Laird Norton Trust Company LLC now owns 45,780 shares of the company’s stock worth $878,000 after purchasing an additional 862 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Fastly by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock worth $133,000 after purchasing an additional 863 shares in the last quarter. CWM LLC raised its holdings in Fastly by 5.4% in the third quarter. CWM LLC now owns 22,776 shares of the company’s stock worth $437,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Hanseatic Management Services Inc. bought a new position in Fastly in the third quarter worth about $33,000. 79.71% of the stock is currently owned by institutional investors.

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.