Fastly, Inc. (NYSE:FSLY) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Fastly, Inc. (NYSE:FSLY) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 189,832 shares of the company’s stock after acquiring an additional 14,813 shares during the quarter. Rhumbline Advisers owned 0.14% of Fastly worth $1,399,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in Fastly by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock worth $133,000 after acquiring an additional 863 shares in the last quarter. EntryPoint Capital LLC raised its position in Fastly by 41.1% during the first quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock valued at $73,000 after acquiring an additional 1,643 shares in the last quarter. Principal Financial Group Inc. raised its position in Fastly by 13.4% during the first quarter. Principal Financial Group Inc. now owns 16,063 shares of the company’s stock valued at $208,000 after acquiring an additional 1,897 shares in the last quarter. CWM LLC raised its position in Fastly by 10.5% during the second quarter. CWM LLC now owns 22,266 shares of the company’s stock valued at $164,000 after acquiring an additional 2,121 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Fastly by 10.2% during the first quarter. ProShare Advisors LLC now owns 25,556 shares of the company’s stock valued at $331,000 after acquiring an additional 2,367 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Price Performance

Shares of NYSE FSLY opened at $7.23 on Friday. The stock’s 50-day moving average is $6.79 and its two-hundred day moving average is $8.95. The company has a market cap of $987.89 million, a price-to-earnings ratio of -7.23 and a beta of 1.20. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The firm had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. During the same period in the prior year, the firm earned ($0.32) EPS. The business’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that Fastly, Inc. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Raymond James lowered their price objective on Fastly from $13.00 to $8.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. Piper Sandler downgraded Fastly from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $6.00 in a research report on Thursday, August 8th. Finally, Craig Hallum cut their price objective on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.81.

Insider Activity at Fastly

In other Fastly news, CTO Artur Bergman sold 16,748 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64. Following the sale, the chief technology officer now owns 6,225,980 shares in the company, valued at approximately $38,476,556.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CTO Artur Bergman sold 16,748 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64. Following the sale, the chief technology officer now owns 6,225,980 shares in the company, valued at $38,476,556.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Nightingale sold 66,066 shares of Fastly stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $408,287.88. Following the completion of the transaction, the chief executive officer now owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. The disclosure for this sale can be found here. Insiders sold 155,450 shares of company stock valued at $990,251 in the last ninety days. 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.