SAN FRANCISCO—Fastly, Inc. (NYSE:FSLY) Chief Financial Officer Ronald W. Kisling recently reported the sale of 1,192 shares of the company's Class A common stock. The shares were sold at a price of $9.22 each, amounting to a total transaction value of $10,990. The transaction comes as Fastly's stock shows strong momentum, with a notable 24% gain over the past week. According to InvestingPro analysis, the company appears slightly undervalued at current levels.
Following this transaction, Kisling retains ownership of 538,350 shares in the company. According to the filing, the shares were sold to satisfy tax obligations related to the vesting of previously granted performance-based restricted stock units. The company maintains a healthy liquidity position with a current ratio of 3.97, indicating strong ability to meet short-term obligations. InvestingPro subscribers can access 8 additional key insights about Fastly's financial health and market position, along with comprehensive analysis in the Pro Research Report.
In other recent news, Fastly has been the subject of several analyst notes. Piper Sandler raised Fastly's stock target to $10, citing progress in refinancing and platform unification. This move was seen as addressing near-term solvency concerns. Oppenheimer upgraded Fastly from Perform to Outperform, setting a new price target of $12, following the bankruptcy of competitor Edgio, which could potentially allow Fastly to capture an additional $40 million in revenue.
Fastly's recent developments include a revenue growth of nearly 11% to $541 million over the past twelve months. The company also announced its third-quarter earnings for 2024, with CEO Todd Nightingale and CFO Ron Kisling leading the earnings call. They expressed optimism about Fastly's strategy and long-term growth, while also acknowledging potential risks.
InvestingPro analysts suggest that Fastly's stock is currently undervalued, with a healthy current ratio of 3.97 and moderate debt levels. They see encouraging signs in Fastly's strategic moves and potential market dynamics. These recent developments are part of Fastly's ongoing efforts to navigate the volatile industry landscape and deliver growth for its investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.