Swiss National Bank Boosts Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Swiss National Bank boosted its stake in Fastly, Inc. (NYSE:FSLY) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 259,000 shares of the company’s stock after purchasing an additional 5,500 shares during the quarter. Swiss National Bank owned about 0.18% of Fastly worth $2,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of Montreal Can lifted its position in shares of Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after buying an additional 1,293,490 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Fastly in the 4th quarter worth approximately $3,717,000. Charles Schwab Investment Management Inc. increased 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 worth $8,006,000 after acquiring an additional 161,070 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Fastly by 56.6% during the 4th quarter. SG Americas Securities LLC now owns 346,632 shares of the company’s stock worth $3,272,000 after acquiring an additional 125,275 shares in the last quarter. Finally, Zacks Investment Management bought a new position in shares of Fastly during the 3rd quarter valued at approximately $914,000. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Down 2.4 %

Shares of NYSE:FSLY opened at $6.71 on Friday. The firm has a market capitalization of $954.26 million, a PE ratio of -5.88 and a beta of 1.31. The business has a 50 day simple moving average of $8.25 and a two-hundred day simple moving average of $8.23. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $14.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (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%. On average, equities analysts predict that Fastly, Inc. will post -0.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FSLY. Citigroup boosted their price target on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Oppenheimer began coverage on shares of Fastly in a report on Thursday, March 20th. They issued a “market perform” rating on the stock. Royal Bank of Canada lowered their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler reissued a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.55.

Insider Transactions at Fastly

In related news, CTO Artur Bergman sold 5,304 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.88, for a total value of $36,491.52. Following the completion of the sale, the chief technology officer now owns 3,669,058 shares in the company, valued at approximately $25,243,119.04. The trade was a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Nightingale sold 8,595 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $6.87, for a total value of $59,047.65. Following the completion of the transaction, the chief executive officer now directly owns 1,544,706 shares in the company, valued at approximately $10,612,130.22. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,699 shares of company stock worth $1,486,150. Insiders own 6.70% of the company’s stock.

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.