Knights of Columbus Asset Advisors LLC Sells 37,914 Shares of Fastly, Inc. $FSLY

Knights of Columbus Asset Advisors LLC decreased its position in Fastly, Inc. (NASDAQ:FSLY) by 35.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 69,260 shares of the company’s stock after selling 37,914 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Fastly were worth $1,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in FSLY. First Trust Advisors LP raised its position in shares of Fastly by 100.5% during the 1st quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock valued at $204,349,000 after acquiring an additional 3,524,763 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Fastly by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,741,549 shares of the company’s stock worth $79,620,000 after purchasing an additional 11,022 shares during the period. Bank of America Corp DE increased its stake in Fastly by 120.0% during the first quarter. Bank of America Corp DE now owns 1,269,369 shares of the company’s stock valued at $36,888,000 after purchasing an additional 692,459 shares during the last quarter. Wellington Management Group LLP bought a new stake in Fastly during the second quarter valued at $8,696,000. Finally, Swiss National Bank increased its stake in Fastly by 1.8% during the first quarter. Swiss National Bank now owns 280,900 shares of the company’s stock valued at $8,163,000 after purchasing an additional 4,900 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

Fastly Price Performance

Shares of NASDAQ:FSLY opened at $17.26 on Thursday. The company has a 50 day moving average of $23.62 and a 200-day moving average of $21.63. Fastly, Inc. has a twelve month low of $7.87 and a twelve month high of $34.82. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.32.

Fastly (NASDAQ:FSLY) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. Fastly had a negative net margin of 8.74% and a negative return on equity of 4.53%. The business had revenue of $190.19 million during the quarter, compared to analysts’ expectations of $187.82 million. On average, research analysts expect that Fastly, Inc. will post -0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FSLY. Royal Bank Of Canada dropped their target price on shares of Fastly from $25.00 to $19.00 and set a “sector perform” rating on the stock in a report on Thursday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fastly in a research note on Wednesday, November 4th. Bank of America increased their price target on Fastly from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 23rd. Raymond James Financial reissued an “outperform” rating and set a $24.00 price target on shares of Fastly in a report on Thursday, November 5th. Finally, KeyCorp restated an “overweight” rating and set a $30.00 price objective on shares of Fastly in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Insider Buying and Selling

In other Fastly news, CTO Artur Bergman sold 37,039 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $25.48, for a total value of $943,753.72. Following the completion of the sale, the chief technology officer directly owned 1,024,239 shares in the company, valued at $26,097,609.72. This represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Compton, III sold 8,941 shares of the stock in a transaction on Monday, October 26th. The shares were sold at an average price of $24.98, for a total value of $223,346.18. Following the transaction, the chief executive officer directly owned 822,559 shares of the company’s stock, valued at approximately $20,547,523.82. The trade was a 1.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,323,893 shares of company stock valued at $35,452,889 over the last 90 days. 4.20% of the stock is currently owned by insiders.

Fastly Profile

Fastly, Inc. provides an edge cloud platform that helps businesses deliver and secure websites, applications, and digital content. Its services include content delivery, web application and API protection, DDoS mitigation, bot management, and tools for monitoring and analyzing internet traffic. The company also offers edge computing through Fastly Compute, which lets developers run code closer to users. Fastly’s platform is designed to help organizations improve the speed, reliability, and security of online services, and it serves customers across multiple industries and geographies.