Wealth Effects LLC lifted its position in shares of Fastly, Inc. (NYSE:FSLY – Free Report) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,651 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Wealth Effects LLC’s holdings in Fastly were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in Fastly during the second quarter valued at approximately $38,000. FMR LLC increased its stake in shares of Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares in the last quarter. Aigen Investment Management LP bought a new position in Fastly in the 3rd quarter worth $89,000. Blue Trust Inc. lifted its position in Fastly by 15.2% during the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after purchasing an additional 2,296 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Fastly during the third quarter valued at about $183,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
FSLY has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. DA Davidson lifted their target price on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum increased their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.85.
Fastly Stock Up 7.7 %
Shares of FSLY stock opened at $10.89 on Wednesday. The stock’s fifty day moving average price is $9.50 and its 200 day moving average price is $7.90. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -9.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.
Fastly (NYSE:FSLY – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. During the same quarter last year, the company posted ($0.33) earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.
Insider Transactions at Fastly
In other Fastly news, CEO Todd Nightingale sold 49,816 shares of Fastly stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $311,350.00. Following the completion of the transaction, the chief executive officer now owns 1,600,973 shares of the company’s stock, valued at approximately $10,006,081.25. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Artur Bergman sold 49,178 shares of Fastly stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the transaction, the chief technology officer now owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 289,330 shares of company stock worth $2,476,849 over the last 90 days. 6.70% of the stock is currently owned by company insiders.
About Fastly
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.
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