15,426 Shares in Fastly, Inc. (NYSE:FSLY) Acquired by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp acquired a new stake in Fastly, Inc. (NYSE:FSLY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,426 shares of the company’s stock, valued at approximately $114,000.

Other large investors have also modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after purchasing an additional 466,560 shares during the period. Vanguard Group Inc. lifted its stake in shares of Fastly by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after acquiring an additional 657,334 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Fastly by 9.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock valued at $33,942,000 after purchasing an additional 162,659 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Fastly by 52.1% in the first quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company’s stock valued at $664,000 after buying an additional 17,536 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Fastly in the 4th quarter valued at about $2,933,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Fastly Stock Up 0.7 %

FSLY opened at $7.28 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The stock has a market capitalization of $994.72 million, a price-to-earnings ratio of -7.28 and a beta of 1.20. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $25.87. The business has a 50-day moving average of $6.78 and a two-hundred day moving average of $8.88.

Fastly (NYSE:FSLY) last posted its quarterly 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. The firm had revenue of $132.37 million during the quarter, compared to the consensus estimate of $131.62 million. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.32) earnings per share. On average, research analysts expect that Fastly, Inc. will post -0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Raymond James reduced their price objective on Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Craig Hallum lowered their target price on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Piper Sandler cut shares of Fastly from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $6.00 in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and a consensus target price of $7.81.

Insider Activity at Fastly

In other Fastly news, CTO Artur Bergman sold 19,889 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total transaction of $118,538.44. Following the completion of the sale, the chief technology officer now directly owns 6,205,000 shares in the company, valued at $36,981,800. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Fastly news, CTO Artur Bergman sold 19,889 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total transaction of $118,538.44. Following the transaction, the chief technology officer now owns 6,205,000 shares in the company, valued at $36,981,800. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ronald W. Kisling sold 15,933 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $98,465.94. Following the completion of the sale, the chief financial officer now directly owns 570,124 shares of the company’s stock, valued at approximately $3,523,366.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,450 shares of company stock worth $990,251. Company 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.