Amundi Cuts Stake in Fastly, Inc. (NYSE:FSLY)

Amundi reduced its stake in Fastly, Inc. (NYSE:FSLY) by 85.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,900 shares of the company’s stock after selling 250,759 shares during the period. Amundi’s holdings in Fastly were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Fastly during the fourth quarter valued at $3,717,000. Proficio Capital Partners LLC bought a new position in shares of Fastly during the fourth quarter valued at $181,000. Cornerstone Investment Partners LLC bought a new position in shares of Fastly during the fourth quarter valued at $249,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fastly by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,074,175 shares of the company’s stock valued at $10,140,000 after purchasing an additional 16,533 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Fastly during the fourth quarter valued at $161,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Stock Down 1.6 %

Shares of NYSE:FSLY opened at $7.00 on Friday. Fastly, Inc. has a 52-week low of $5.52 and a 52-week high of $14.12. The stock has a market cap of $995.39 million, a P/E ratio of -6.14 and a beta of 1.31. The business’s 50 day moving average is $8.47 and its 200 day moving average is $8.19. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Sell-side analysts predict that Fastly, Inc. will post -0.78 EPS for the current year.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price target (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada lowered their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Oppenheimer began coverage on Fastly in a report on Thursday. They set a “market perform” rating on the stock. Finally, Citigroup increased their target price on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, Fastly currently has an average rating of “Hold” and an average price target of $8.55.

Insider Buying and Selling at Fastly

In other news, CFO Ronald W. Kisling sold 12,500 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $125,000.00. Following the completion of the sale, the chief financial officer now owns 525,850 shares of the company’s stock, valued at $5,258,500. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Artur Bergman sold 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $10.09, for a total value of $100,900.00. Following the completion of the sale, the chief technology officer now directly owns 3,434,136 shares of the company’s stock, valued at $34,650,432.24. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,699 shares of company stock valued at $1,587,050. 6.70% of the stock is currently owned by corporate insiders.

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.