Stock Traders Purchase Large Volume of Call Options on Fastly

Fastly, Inc. (NYSE:FSLY) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 122,985 call options on the company. This is an increase of approximately 130% compared to the average volume of 53,471 call options.

FSLY has been the topic of several recent research reports. Robert W. Baird upped their price target on shares of Fastly from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating in a report on Friday, July 10th. BofA Securities downgraded shares of Fastly from a “buy” rating to an “underperform” rating in a report on Friday, July 10th.

Zacks Investment Research raised shares of Fastly from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Raymond James raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a report on Monday, August 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $69.17.

Shares of FSLY stock opened at $120.33 on Thursday. Fastly has a one year low of $10.63 and a one year high of $121.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 13.72 and a current ratio of 13.72. The company has a 50 day moving average price of $87.67 and a 200 day moving average price of $60.78. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of -218.78 and a beta of 0.94.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.09. Fastly had a negative net margin of 21.39% and a negative return on equity of 16.02%. The firm had revenue of $74.66 million during the quarter, compared to analyst estimates of $71.65 million. As a group, equities analysts forecast that Fastly will post -0.48 EPS for the current fiscal year.

In related news, insider Artur Bergman sold 542,308 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $80.16, for a total transaction of $43,471,409.28. Following the sale, the insider now owns 1,021,650 shares of the company’s stock, valued at $81,895,464. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joshua Bixby sold 20,000 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $97.38, for a total transaction of $1,947,600.00. Following the sale, the chief executive officer now directly owns 323,379 shares in the company, valued at approximately $31,490,647.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,947,478 shares of company stock worth $164,380,393. 24.33% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Fastly by 215.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,076,049 shares of the company’s stock valued at $517,254,000 after purchasing an additional 4,148,788 shares in the last quarter. Morgan Stanley raised its stake in Fastly by 285.4% in the 1st quarter. Morgan Stanley now owns 2,883,106 shares of the company’s stock valued at $54,720,000 after acquiring an additional 2,134,966 shares during the period. First Trust Advisors LP bought a new stake in Fastly in the 2nd quarter valued at $181,541,000.

Deutsche Bank AG raised its stake in Fastly by 704,498.4% in the 1st quarter. Deutsche Bank AG now owns 1,359,875 shares of the company’s stock valued at $25,810,000 after acquiring an additional 1,359,682 shares during the period. Finally, FMR LLC raised its stake in Fastly by 321.1% in the 2nd quarter. FMR LLC now owns 1,379,478 shares of the company’s stock valued at $117,435,000 after acquiring an additional 1,051,916 shares during the period. 61.15% 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. 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. It is a programmable platform designed for Web and application delivery.

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