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Fastly, Inc. (NYSE:FSLY) Chief Financial Officer Ronald Kisling has sold a portion of his holdings in the company, according to a recent SEC filing. On January 6, Kisling sold 12,500 shares of Fastly's Class A common stock at a price of $10 per share, amounting to a total transaction value of $125,000. The sale comes as Fastly's stock has shown strong momentum, with a 32% gain over the past six months, according to InvestingPro data.
The transaction was conducted under a Rule 10b5-1 trading plan, which Kisling had adopted on September 5, 2024. This plan allows company insiders to set up a predetermined schedule for selling stocks, helping to avoid any allegations of insider trading. The company, currently valued at $1.3 billion, maintains strong liquidity with a current ratio of 3.97x.
Following the sale, Kisling retains ownership of 525,850 shares in Fastly. The shares were sold by the Ronald Kisling Living Trust, marking a change in the form of beneficial ownership from direct to indirect. InvestingPro analysis suggests Fastly is currently undervalued, with additional insights available in the comprehensive Pro Research Report covering 1,400+ US stocks.
In other recent news, Fastly Inc (NYSE:FSLY). has been in the spotlight following its third-quarter earnings announcement for 2024, where CEO Todd Nightingale and CFO Ron Kisling expressed optimism about the company's long-term growth strategy and product sales. Piper Sandler recently raised Fastly's stock target to $10, citing progress in refinancing and platform unification. Additionally, Oppenheimer upgraded Fastly from Perform to Outperform, setting a new price target of $12, based on potential revenue gains from the bankruptcy of former competitor Edgio.
Fastly's revenue growth has been impressive, with an increase of nearly 11% over the last twelve months, reaching $541 million. This growth is supported by strategic shifts and operational improvements, including the introduction of new sales leadership. Despite a slowdown in growth and previous unmet expectations, analysts maintain a neutral stance on Fastly's stock, acknowledging the potential upside from its recent developments.
Moreover, Fastly is expected to see strong demand for its edge compute and security products, driven by emerging artificial intelligence applications. The company's offerings in these areas are predicted to contribute to its market growth and performance. Analysts from InvestingPro suggest that the stock is currently undervalued, with healthy financial indicators including a current ratio of 3.97 and moderate debt levels. These are the latest developments in the company's journey.
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