Oppenheimer & Co. Inc. Trims Stock Holdings in Fastly, Inc. $FSLY

Oppenheimer & Co. Inc. lessened its position in shares of Fastly, Inc. (NYSE:FSLY) by 85.7% during the 4th quarter, Holdings Channel reports. The firm owned 15,550 shares of the company’s stock after selling 93,436 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Fastly were worth $158,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Fastly by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after purchasing an additional 310,234 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Fastly in the third quarter valued at approximately $61,864,000. Dimensional Fund Advisors LP boosted its position in Fastly by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 4,137,808 shares of the company’s stock valued at $35,380,000 after buying an additional 117,213 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in Fastly in the 3rd quarter worth approximately $21,174,000. Finally, Goldman Sachs Group Inc. increased its holdings in Fastly by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock worth $14,573,000 after buying an additional 165,937 shares during the period. 79.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank Of Canada decreased their price objective on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday. Evercore initiated coverage on shares of Fastly in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price objective on the stock. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a report on Tuesday, April 14th. Piper Sandler lowered their price target on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Raymond James Financial raised Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Friday. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.63.

Insider Activity at Fastly

In other Fastly news, CEO Charles Lacey Compton III sold 7,059 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $24.57, for a total transaction of $173,439.63. Following the completion of the transaction, the chief executive officer directly owned 1,133,895 shares in the company, valued at approximately $27,859,800.15. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Artur Bergman sold 265,000 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $22.79, for a total transaction of $6,039,350.00. Following the transaction, the chief technology officer directly owned 1,604,901 shares in the company, valued at approximately $36,575,693.79. The trade was a 14.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,354,553 shares of company stock valued at $28,004,023. 6.70% of the stock is owned by company insiders.

Fastly Stock Down 4.5%

Shares of FSLY opened at $19.58 on Tuesday. The firm has a market cap of $3.06 billion, a P/E ratio of -20.40 and a beta of 0.49. Fastly, Inc. has a 12 month low of $6.29 and a 12 month high of $34.82. The stock’s 50 day moving average is $25.59 and its two-hundred day moving average is $16.08. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Fastly Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.