Fastly, Inc. (NYSE:FSLY) Holdings Boosted by Rhumbline Advisers

Rhumbline Advisers raised its stake in Fastly, Inc. (NYSE:FSLY) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,131 shares of the company’s stock after acquiring an additional 3,081 shares during the period. Rhumbline Advisers owned 0.14% of Fastly worth $1,814,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Entropy Technologies LP boosted its position in shares of Fastly by 118.7% during the third quarter. Entropy Technologies LP now owns 39,803 shares of the company’s stock worth $301,000 after buying an additional 21,600 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Fastly in the third quarter valued at $89,000. Intech Investment Management LLC acquired a new stake in shares of Fastly in the third quarter valued at $328,000. Charles Schwab Investment Management Inc. boosted its stake in Fastly by 18.0% during 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 buying an additional 161,070 shares in the last quarter. Finally, Penserra Capital Management LLC grew its holdings in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after acquiring an additional 801,968 shares during the period. 79.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FSLY has been the topic of several recent research reports. Piper Sandler restated a “neutral” rating and issued a $9.00 price target (down previously from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Craig Hallum boosted their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Monday, December 2nd. Robert W. Baird boosted their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson lifted their price target on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Fastly presently has an average rating of “Hold” and an average price target of $8.55.

Fastly Price Performance

Fastly stock opened at $6.54 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The business has a 50 day simple moving average of $9.20 and a 200 day simple moving average of $8.17. Fastly, Inc. has a one year low of $5.52 and a one year high of $14.76. The company has a market capitalization of $917.56 million, a PE ratio of -5.74 and a beta of 1.26.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. On average, sell-side analysts forecast that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at Fastly

In other Fastly news, CEO Todd Nightingale sold 35,509 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $285,492.36. Following the completion of the sale, the chief executive officer now owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. The trade was a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Artur Bergman sold 3,400 shares of Fastly stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.01, for a total transaction of $40,834.00. Following the transaction, the chief technology officer now directly owns 3,444,136 shares in the company, valued at $41,364,073.36. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,436 shares of company stock worth $1,888,395. Insiders own 6.70% of the company’s stock.

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.