Oppenheimer & Co. Inc. Invests $149,000 in Fastly, Inc. (NYSE:FSLY)

Oppenheimer & Co. Inc. acquired a new stake in shares of Fastly, Inc. (NYSE:FSLY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,800 shares of the company’s stock, valued at approximately $149,000.

Several other large investors have also recently added to or reduced their stakes in FSLY. FMR LLC boosted its stake in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares during the period. Aigen Investment Management LP acquired a new stake in Fastly during the third quarter valued at $89,000. Public Employees Retirement System of Ohio acquired a new stake in Fastly during the third quarter valued at $183,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Fastly by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,524 shares of the company’s stock valued at $269,000 after purchasing an additional 5,394 shares in the last quarter. Finally, Wealth Effects LLC increased its position in Fastly by 21.1% in the 4th quarter. Wealth Effects LLC now owns 28,651 shares of the company’s stock worth $270,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value of $40,834.00. Following the sale, the chief technology officer now directly owns 3,444,136 shares in the company, valued at $41,364,073.36. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd Nightingale sold 8,595 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total transaction of $59,047.65. Following the transaction, the chief executive officer now directly owns 1,544,706 shares of the company’s stock, valued at $10,612,130.22. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,099 shares of company stock valued at $1,627,884 in the last three months. Company insiders own 6.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Monday, December 2nd. Royal Bank of Canada decreased their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Citigroup raised their price target on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $9.00 price objective (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.55.

Fastly Stock Performance

NYSE:FSLY opened at $6.66 on Monday. The firm has a market capitalization of $947.43 million, a PE ratio of -5.84 and a beta of 1.31. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $14.25. 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 firm’s fifty day simple moving average is $8.94 and its 200 day simple moving average is $8.17.

Fastly (NYSE:FSLY) last posted its quarterly earnings data 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 anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

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.