SAN FRANCISCO—Fastly, Inc. (NYSE:FSLY) Chief Financial Officer Ronald W. Kisling recently sold 6,038 shares of the company’s Class A common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $9.45 each, totaling approximately $57,059. The transaction comes as Fastly’s stock has experienced a challenging year, with InvestingPro data showing a 50% decline in share price over the past 12 months.
The transaction occurred on January 16, 2025, and was conducted to satisfy tax obligations related to the vesting of previously granted Restricted Stock Units, as noted in the filing. Following the sale, Kisling retains ownership of 519,812 shares of Fastly stock. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 3.97, though it remains unprofitable over the last twelve months.
Fastly, a provider of edge cloud platforms, is headquartered in San Francisco. Investors often monitor insider transactions like these to gauge the sentiment of company executives regarding the future performance of the company. The company is currently trading below its Fair Value according to InvestingPro models, with its next earnings report scheduled for February 12, 2025.
In other recent news, Fastly Inc . reported its third-quarter earnings for 2024, with CEO Todd Nightingale and CFO Ron Kisling expressing optimism about the company’s strategy and long-term growth. They indicated confidence in Fastly’s product sales and future prospects, particularly in edge compute and security products driven by emerging artificial intelligence applications.
Analysts from Piper Sandler and Oppenheimer have recently updated their views on the company. Piper Sandler raised Fastly’s stock target to $10, citing refinancing and platform unification progress. Meanwhile, Oppenheimer upgraded Fastly from Perform to Outperform, setting a new price target of $12, based on the potential revenue gain from the bankruptcy of its former competitor, Edgio.
Piper Sandler’s analysis also highlighted other companies in the Cloud Automation Software (ETR:SOWGn) sector, such as IOT, RBRK, and ANET, as promising setups for the calendar year 2025. However, the firm recommends caution with stocks like NICE, RNG, AKAM, NET, and PSTG, which have concerning setups heading into the new year.
These are just a few of the recent developments in the Cloud Automation Software sector. As always, investors are advised to review these facts carefully and consult with their financial advisors before making investment decisions.
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