Entropy Technologies LP Acquires 21,600 Shares of Fastly, Inc. (NYSE:FSLY)

Entropy Technologies LP raised its holdings in Fastly, Inc. (NYSE:FSLY) by 118.7% during the third quarter, HoldingsChannel reports. The firm owned 39,803 shares of the company’s stock after acquiring an additional 21,600 shares during the quarter. Entropy Technologies LP’s holdings in Fastly were worth $301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FSLY. Allspring Global Investments Holdings LLC lifted its position in shares of Fastly by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock worth $133,000 after buying an additional 863 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Fastly by 41.1% in the first quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after acquiring an additional 1,643 shares during the last quarter. CWM LLC boosted its stake in shares of Fastly by 10.5% in the 2nd quarter. CWM LLC now owns 22,266 shares of the company’s stock valued at $164,000 after purchasing an additional 2,121 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Fastly by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after purchasing an additional 2,128 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Fastly by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after purchasing an additional 2,296 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.

Insider Transactions at Fastly

In other Fastly news, CTO Artur Bergman sold 19,889 shares of Fastly stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the sale, the chief technology officer now directly owns 6,205,000 shares in the company, valued at approximately $36,981,800. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 7,449 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the transaction, the chief financial officer now owns 558,564 shares in the company, valued at $4,044,003.36. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,881 shares of company stock valued at $677,703. Corporate insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FSLY. Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum upped their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Piper Sandler lifted their price target on Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley cut their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.94.

Fastly Stock Performance

NYSE:FSLY opened at $6.41 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.13 and a current ratio of 3.97. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The company has a 50 day simple moving average of $7.20 and a two-hundred day simple moving average of $7.41. The company has a market capitalization of $899.32 million, a PE ratio of -5.88 and a beta of 1.24.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.08. The company had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. Fastly’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) earnings per share. Research analysts anticipate that Fastly, Inc. will post -0.86 earnings per share for the current year.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. 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.