Investors Buy High Volume of Call Options on Fastly (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) saw some unusual options trading on Wednesday. Traders acquired 29,107 call options on the stock. This is an increase of approximately 125% compared to the average volume of 12,949 call options.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of analyst reports. Royal Bank of Canada upgraded shares of Fastly from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $12.00 to $18.00 in a research note on Monday, January 8th. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research note on Thursday, February 15th. Bank of America lowered their price objective on shares of Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $19.00 to $16.00 in a research report on Monday, April 8th. Finally, Citigroup raised shares of Fastly from a “sell” rating to a “neutral” rating and upped their price objective 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

Fastly Price Performance

Shares of Fastly stock traded down $0.19 during trading on Wednesday, reaching $12.70. 1,673,814 shares of the stock traded hands, compared to its average volume of 3,858,914. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -12.39 and a beta of 1.22. The business has a fifty day simple moving average of $13.69 and a two-hundred day simple moving average of $16.40. 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 52-week low of $11.61 and a 52-week high of $25.87.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The firm had revenue of $137.78 million during 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%. Sell-side analysts expect that Fastly will post -1.07 EPS for the current year.

Insider Buying and Selling at Fastly

In other news, CFO Ronald W. Kisling sold 7,486 shares of Fastly stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. In other Fastly news, CEO Todd Nightingale sold 50,708 shares of Fastly stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.09, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 7,486 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total transaction of $97,318.00. Following the transaction, the chief financial officer now owns 632,736 shares of the company’s stock, valued at approximately $8,225,568. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,076 shares of company stock valued at $3,620,434. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FSLY. Hanseatic Management Services Inc. purchased a new position in Fastly in the third quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Fastly during the third quarter valued at approximately $36,000. Allworth Financial LP boosted its stake in Fastly by 1,420.9% in the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock valued at $38,000 after acquiring an additional 1,975 shares in the last quarter. Hollencrest Capital Management purchased a new position in Fastly in the third quarter worth $58,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Fastly during the fourth quarter worth $61,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

About Fastly

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.