SG Americas Securities LLC Increases Stock Holdings in Fastly, Inc. (NYSE:FSLY)

SG Americas Securities LLC boosted its stake in shares of Fastly, Inc. (NYSE:FSLY) by 77.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 221,357 shares of the company’s stock after buying an additional 96,664 shares during the period. SG Americas Securities LLC owned approximately 0.16% of Fastly worth $1,676,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Rafferty Asset Management LLC increased its position in Fastly by 4.6% during the fourth quarter. Rafferty Asset Management LLC now owns 83,084 shares of the company’s stock valued at $1,479,000 after acquiring an additional 3,641 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Fastly by 9.3% during 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 during the last quarter. Wellington Management Group LLP purchased a new stake in Fastly in the 4th quarter worth about $2,933,000. Vanguard Group Inc. lifted its stake in Fastly by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,924,190 shares of the company’s stock worth $230,051,000 after purchasing an additional 192,076 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Fastly during the fourth quarter valued at approximately $409,000. 79.71% of the stock is currently owned by institutional investors.

Insider Activity at Fastly

In other Fastly news, CTO Artur Bergman sold 19,889 shares of Fastly stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total value of $118,538.44. Following the transaction, the chief technology officer now directly owns 6,205,000 shares of the company’s stock, valued at approximately $36,981,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fastly news, CTO Artur Bergman sold 19,889 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the sale, the chief technology officer now owns 6,205,000 shares of the company’s stock, valued at approximately $36,981,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $8.84, for a total value of $65,849.16. Following the sale, the chief financial officer now owns 586,057 shares in the company, valued at $5,180,743.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock valued at $903,011 over the last 90 days. Insiders own 6.70% of the company’s stock.

Fastly Stock Down 2.3 %

Shares of Fastly stock opened at $7.30 on Wednesday. The stock has a market cap of $996.77 million, a price-to-earnings ratio of -7.30 and a beta of 1.22. The firm’s 50-day moving average is $6.69 and its two-hundred day moving average is $8.47. 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, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on FSLY. Morgan Stanley reduced their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Craig Hallum decreased their target price on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Piper Sandler cut shares of Fastly from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $6.00 in a report on Thursday, August 8th. Finally, Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.81.

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.