Raymond James Financial Inc. Invests $3.72 Million in Fastly, Inc. (NYSE:FSLY)

Raymond James Financial Inc. acquired a new stake in Fastly, Inc. (NYSE:FSLY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 393,794 shares of the company’s stock, valued at approximately $3,717,000. Raymond James Financial Inc. owned about 0.28% of Fastly at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new stake in shares of Fastly in the third quarter valued at $328,000. Charles Schwab Investment Management Inc. raised its stake in Fastly by 18.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock valued at $8,006,000 after purchasing an additional 161,070 shares during the last quarter. Bank of Montreal Can lifted its holdings 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 purchasing an additional 1,293,490 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Fastly by 5.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 71,876 shares of the company’s stock worth $544,000 after purchasing an additional 3,575 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Fastly by 124.2% during the third 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. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on FSLY shares. Royal Bank of Canada lowered 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 note on Thursday, February 13th. Citigroup lifted their price objective on 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 from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Finally, Oppenheimer started coverage on Fastly in a research note on Thursday, March 20th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.55.

Fastly Trading Down 2.4 %

Shares of FSLY opened at $6.71 on Friday. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $14.12. The stock’s 50-day moving average is $8.25 and its two-hundred day moving average is $8.23. 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 stock has a market cap of $954.26 million, a PE ratio of -5.88 and a beta of 1.31.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share 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%. Equities analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Activity at Fastly

In other Fastly news, CTO Artur Bergman sold 8,049 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $10.04, for a total value of $80,811.96. Following the transaction, the chief technology officer now directly owns 3,426,087 shares of the company’s stock, valued at $34,397,913.48. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd Nightingale sold 35,509 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total transaction of $285,492.36. Following the sale, the chief executive officer now directly owns 1,553,301 shares of the company’s stock, valued at $12,488,540.04. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 163,699 shares of company stock valued at $1,486,150. Corporate 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.