Los Angeles Capital Management LLC Sells 22,723 Shares of Fastly, Inc. (NYSE:FSLY)

Los Angeles Capital Management LLC trimmed its stake in Fastly, Inc. (NYSE:FSLY) by 60.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,883 shares of the company’s stock after selling 22,723 shares during the period. Los Angeles Capital Management LLC’s holdings in Fastly were worth $193,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Qube Research & Technologies Ltd increased its holdings in shares of Fastly by 77.7% during the third quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock valued at $14,902,000 after acquiring an additional 339,820 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Fastly by 3.1% in the third quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock worth $244,075,000 after buying an additional 381,845 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Fastly by 9.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after buying an additional 162,659 shares during the period. Moody Aldrich Partners LLC purchased a new stake in shares of Fastly during the fourth quarter valued at $2,155,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Fastly in the 4th quarter valued at $2,990,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Stock Performance

NYSE FSLY opened at $7.45 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -7.45 and a beta of 1.11. The stock has a 50-day moving average of $8.93 and a 200 day moving average of $13.90. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.35. Fastly, Inc. has a twelve month low of $6.77 and a twelve month high of $25.87.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.02. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. The business had revenue of $133.52 million during the quarter, compared to the consensus estimate of $133.01 million. Sell-side analysts anticipate that Fastly, Inc. will post -1.08 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ronald W. Kisling sold 12,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $12.92, for a total transaction of $155,040.00. Following the completion of the transaction, the chief financial officer now owns 640,222 shares in the company, valued at approximately $8,271,668.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $12.92, for a total transaction of $155,040.00. Following the completion of the sale, the chief financial officer now directly owns 640,222 shares in the company, valued at $8,271,668.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Artur Bergman sold 10,928 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total value of $96,603.52. Following the completion of the transaction, the chief technology officer now owns 6,244,124 shares in the company, valued at approximately $55,198,056.16. The disclosure for this sale can be found here. Insiders have sold a total of 135,254 shares of company stock worth $1,276,122 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FSLY shares. Citigroup cut their price target on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Piper Sandler upgraded shares of 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 research report on Monday, April 8th. Royal Bank of Canada cut their price target on Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 2nd. Bank of America cut Fastly from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $18.00 to $8.00 in a report on Thursday, May 2nd. Finally, DA Davidson lowered Fastly from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Fastly has an average rating of “Hold” and an average price target of $14.44.

Fastly 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.