Fastly, Inc. (NYSE:FSLY) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. 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 1,074,175 shares of the company’s stock after acquiring an additional 16,533 shares during the period. Charles Schwab Investment Management Inc. owned 0.77% of Fastly worth $10,140,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Penserra Capital Management LLC boosted its stake in 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. Geode Capital Management LLC grew its position in Fastly by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock valued at $22,831,000 after buying an additional 46,951 shares in the last quarter. Bank of Montreal Can grew its position in Fastly by 11,140.2% in the 3rd 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 in the last quarter. SG Americas Securities LLC grew its position in Fastly by 56.6% in the 4th quarter. SG Americas Securities LLC now owns 346,632 shares of the company’s stock valued at $3,272,000 after buying an additional 125,275 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock valued at $1,814,000 after buying an additional 3,081 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FSLY shares. Citigroup increased their target price on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Fastly in a research report on Thursday, February 13th. 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. Finally, Oppenheimer started coverage on shares of Fastly in a research report on Thursday. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat, Fastly has a consensus rating of “Hold” and an average target price of $8.55.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 5,304 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total value of $36,491.52. Following the sale, the chief technology officer now owns 3,669,058 shares in the company, valued at approximately $25,243,119.04. This trade represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ronald W. Kisling sold 6,038 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total transaction of $57,059.10. Following the completion of the sale, the chief financial officer now owns 519,812 shares in the company, valued at approximately $4,912,223.40. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 173,699 shares of company stock worth $1,587,050. Insiders own 6.70% of the company’s stock.

Fastly Price Performance

Shares of FSLY opened at $7.13 on Friday. The firm has a market cap of $1.01 billion, a PE ratio of -6.25 and a beta of 1.31. The firm’s 50 day moving average price is $8.43 and its 200 day moving average price is $8.22. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $14.12.

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 net margin of 29.07% and a negative return on equity of 12.75%. As a group, research analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal 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.