UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Fastly, Inc. (NYSE:FSLY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Fastly, Inc. (NYSE:FSLY) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,342 shares of the company’s stock after selling 17,995 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.16% of Fastly worth $1,691,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC increased its position in shares of Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after acquiring an additional 801,968 shares during the period. Bank of Montreal Can increased its stake in shares of Fastly by 11,140.2% during the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after buying an additional 1,293,490 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Fastly by 18.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock valued at $8,006,000 after acquiring an additional 161,070 shares in the last quarter. Point72 Asset Management L.P. increased its position in Fastly by 461.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock valued at $5,575,000 after purchasing an additional 621,680 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Fastly by 77.5% in the 3rd quarter. SG Americas Securities LLC now owns 221,357 shares of the company’s stock worth $1,676,000 after purchasing an additional 96,664 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several research analyst reports. DA Davidson boosted their price target on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum upped their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Piper Sandler increased their target price on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Robert W. Baird lifted their price target on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.55.

Fastly Trading Up 6.4 %

NYSE FSLY opened at $11.15 on Tuesday. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $25.87. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average price is $8.04 and its 200-day moving average price is $7.40. The stock has a market cap of $1.56 billion, a P/E ratio of -10.23 and a beta of 1.27.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. The company had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. Fastly’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) EPS. As a group, equities analysts forecast that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity at Fastly

In other news, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the completion of the transaction, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at $4,044,003.36. The trade was a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 49,178 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total transaction of $396,866.46. Following the transaction, the chief technology officer now owns 6,155,822 shares in the company, valued at approximately $49,677,483.54. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,241 shares of company stock valued at $1,699,684. 6.70% of the stock is owned by corporate insiders.

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.