International Assets Investment Management LLC Takes Position in Fastly, Inc. (NYSE:FSLY)

International Assets Investment Management LLC acquired a new position in shares of Fastly, Inc. (NYSE:FSLY) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,435 shares of the company’s stock, valued at approximately $61,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSLY. Vanguard Group Inc. raised its position in Fastly by 3.1% in the third quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock valued at $244,075,000 after purchasing an additional 381,845 shares during the period. Legal & General Group Plc lifted its stake in Fastly by 13.3% during the 3rd quarter. Legal & General Group Plc now owns 6,627,895 shares of the company’s stock worth $127,057,000 after acquiring an additional 778,677 shares in the last quarter. Northern Trust Corp boosted its holdings in Fastly by 6.5% during the 3rd quarter. Northern Trust Corp now owns 1,241,799 shares of the company’s stock valued at $23,805,000 after acquiring an additional 75,658 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in Fastly by 8.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,087,695 shares of the company’s stock valued at $20,851,000 after acquiring an additional 87,063 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Fastly by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 916,872 shares of the company’s stock worth $17,576,000 after purchasing an additional 48,008 shares during the period. 79.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fastly

In related news, insider Artur Bergman sold 3,327 shares of Fastly stock in a transaction on Monday, February 26th. The shares were sold at an average price of $13.93, for a total transaction of $46,345.11. Following the sale, the insider now directly owns 6,040,043 shares in the company, valued at approximately $84,137,798.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Ronald W. Kisling sold 7,486 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the sale, the chief financial officer now owns 632,736 shares in the company, valued at approximately $8,225,568. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Artur Bergman sold 3,327 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $13.93, for a total transaction of $46,345.11. Following the sale, the insider now owns 6,040,043 shares of the company’s stock, valued at approximately $84,137,798.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,201 shares of company stock worth $3,160,402. 7.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research note on Thursday, February 15th. Royal Bank of Canada raised Fastly from an “underperform” rating to a “sector perform” rating and upped their price objective for the stock from $12.00 to $18.00 in a research report on Monday, January 8th. Piper Sandler upgraded Fastly from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $19.00 to $16.00 in a report on Monday, April 8th. Bank of America lowered their target price on Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. Finally, Citigroup reduced their price target on Fastly from $20.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.56.

Fastly Stock Up 2.3 %

Fastly stock opened at $12.94 on Thursday. The stock has a market cap of $1.77 billion, a PE ratio of -12.44 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. The stock’s fifty day moving average is $13.21 and its two-hundred day moving average is $16.26. Fastly, Inc. has a 1-year low of $11.61 and a 1-year high of $25.87.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05. The business had revenue of $137.78 million for the quarter, compared to analyst estimates of $139.25 million. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. On average, sell-side analysts expect that Fastly, Inc. will post -1.07 EPS for the current fiscal year.

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.