Point72 Asia Singapore Pte. Ltd. Invests $105,000 in Fastly, Inc. (NYSE:FSLY)

Point72 Asia Singapore Pte. Ltd. bought a new position in Fastly, Inc. (NYSE:FSLY) during the fourth quarter, HoldingsChannel.com reports. The fund bought 11,105 shares of the company’s stock, valued at approximately $105,000.

A number of other institutional investors have also recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in shares of Fastly in the fourth quarter worth $7,088,000. ProShare Advisors LLC boosted its position in shares of Fastly by 48.3% during the fourth quarter. ProShare Advisors LLC now owns 38,198 shares of the company’s stock valued at $361,000 after buying an additional 12,449 shares during the last quarter. Man Group plc boosted its position in shares of Fastly by 104.7% during the fourth quarter. Man Group plc now owns 27,948 shares of the company’s stock valued at $264,000 after buying an additional 14,292 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Fastly by 11.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 66,208 shares of the company’s stock valued at $625,000 after buying an additional 6,950 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Fastly by 16.6% during the fourth quarter. Deutsche Bank AG now owns 255,409 shares of the company’s stock valued at $2,411,000 after buying an additional 36,333 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Trading Up 0.3%

Shares of NYSE:FSLY opened at $8.07 on Friday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -7.07 and a beta of 1.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock’s 50-day simple moving average is $6.31 and its two-hundred day simple moving average is $7.96. Fastly, Inc. has a 52-week low of $4.65 and a 52-week high of $12.08.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $144.47 million for the quarter, compared to analysts’ expectations of $138.40 million. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. Analysts expect that Fastly, Inc. will post -0.78 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Ronald W. Kisling sold 5,342 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total value of $28,098.92. Following the transaction, the chief financial officer now owns 665,693 shares of the company’s stock, valued at $3,501,545.18. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Nightingale sold 35,509 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the completion of the transaction, the chief executive officer now directly owns 1,553,301 shares in the company, valued at $12,488,540.04. This trade represents a 2.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,903 shares of company stock valued at $692,827. Insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FSLY shares. Piper Sandler increased their price objective on Fastly from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Morgan Stanley increased their price objective on Fastly from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Oppenheimer started coverage on Fastly in a research report on Thursday, March 20th. They set a “market perform” rating on the stock. Finally, Royal Bank of Canada increased their price objective on Fastly from $5.00 to $6.00 and gave the company a “sector perform” rating in a research report on Thursday, May 8th. Nine research analysts have rated the stock with a hold rating, According to MarketBeat.com, Fastly presently has an average rating of “Hold” and an average target price of $8.28.

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.