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

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Fastly, Inc. (NYSE:FSLYGet Rating) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 14,919 call options on the stock. This is an increase of approximately 83% compared to the average daily volume of 8,171 call options.

Fastly Stock Up 6.0 %

NYSE FSLY opened at $8.98 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.11 and a current ratio of 4.11. The company has a market capitalization of $1.10 billion, a P/E ratio of -5.44 and a beta of 1.43. Fastly has a one year low of $8.27 and a one year high of $58.62. The stock has a 50 day moving average price of $11.55 and a 200-day moving average price of $14.22.

Insider Activity

In other news, CFO Ronald W. Kisling sold 5,083 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $12.02, for a total transaction of $61,097.66. Following the completion of the sale, the chief financial officer now owns 409,054 shares of the company’s stock, valued at approximately $4,916,829.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Ronald W. Kisling sold 5,083 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $12.02, for a total transaction of $61,097.66. Following the completion of the sale, the chief financial officer now owns 409,054 shares of the company’s stock, valued at approximately $4,916,829.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brett Shirk sold 3,008 shares of the company’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $10.54, for a total transaction of $31,704.32. Following the sale, the executive vice president now directly owns 304,223 shares of the company’s stock, valued at approximately $3,206,510.42. The disclosure for this sale can be found here. Insiders sold 68,630 shares of company stock valued at $820,461 in the last quarter. 8.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc lifted its position in Fastly by 114.8% in the second quarter. Legal & General Group Plc now owns 7,466,124 shares of the company’s stock worth $86,682,000 after buying an additional 3,989,496 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Fastly by 11.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 55,323 shares of the company’s stock worth $642,000 after buying an additional 5,877 shares during the period. Prudential Financial Inc. purchased a new position in Fastly during the second quarter worth $386,000. Occudo Quantitative Strategies LP boosted its stake in Fastly by 212.3% during the second quarter. Occudo Quantitative Strategies LP now owns 515,008 shares of the company’s stock worth $5,979,000 after buying an additional 350,085 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in Fastly by 16.6% during the second quarter. Cubist Systematic Strategies LLC now owns 839,425 shares of the company’s stock worth $9,746,000 after buying an additional 119,344 shares during the period. 65.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FSLY shares. Piper Sandler reduced their target price on shares of Fastly from $19.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, July 6th. Raymond James reduced their target price on shares of Fastly from $35.00 to $25.00 and set a “strong-buy” rating for the company in a report on Friday, August 12th. Royal Bank of Canada lowered shares of Fastly from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $17.50 to $9.00 in a report on Tuesday, July 19th. Morgan Stanley lowered shares of Fastly from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $18.00 to $12.00 in a report on Monday, July 11th. Finally, Craig Hallum cut their price objective on shares of Fastly from $19.00 to $13.00 in a report on Thursday, August 4th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Fastly presently has an average rating of “Hold” and a consensus target price of $14.25.

Fastly Company Profile

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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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