Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Fastly Inc shares valued at $155,040 were sold by KISLING RONALD W on Apr 01 ’24. At $12.92 per share, KISLING RONALD W sold 12,000 shares. The insider’s holdings dropped to 640,222 shares worth approximately $8.13 million following the completion of this transaction.
Also, Daniels Richard Devon sold 7,766 shares, netting a total of over 98,318 in proceeds. Following the sale of shares at $12.66 each, the insider now holds 34,328 shares.
Before that, KISLING RONALD W had sold 1,192 shares from its account. In a trade valued at $17,081, the Chief Financial Officer traded Fastly Inc shares for $14.33 each. Upon closing the transaction, the insider’s holdings decreased to 1,192 shares, worth approximately $6.52 million.
As published in a research note from Craig Hallum on February 15, 2024, Fastly Inc [FSLY] has been rated down from a Buy to a Hold and the price target has been revised to $20. Analysts at Citigroup upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in late January. As of January 08, 2024, RBC Capital Mkts has increased its “an Underperform” rating to a “Sector perform” for FSLY. Earlier on April 20, 2023, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for FSLY stock which previously was a “an Underweight”.
Analyzing FSLY Stock Performance
During the last five days, there has been a surge of approximately 0.71%. Over the course of the year, Fastly Inc shares have dropped approximately -28.65%. Shares of the company reached a 52-week high of $25.87 on 02/12/24 and a 52-week low of $12.40 on 03/19/24. A 50-day SMA is recorded $16.45, while a 200-day SMA reached $17.61. Nevertheless, trading volume fell to 2.48 million shares from 3.14 million shares the previous day.
Support And Resistance Levels for Fastly Inc (FSLY)
According to the 24-hour chart, there is a support level at 12.57, which, if violated, would cause prices to drop to 12.45. In the upper region, resistance lies at 12.88. The next price resistance is at 13.06. RSI (Relative Strength Index) is 35.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.09, which suggests the price will decrease in the coming days. Percent R is at 72.48%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Fastly Inc subject to short interest?
Stocks of Fastly Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.05 million shares to 8.93 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.88 million shares. A jump of 11.76% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.43 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.43.
