Creative Planning Decreases Position in Fastly, Inc. (NYSE:FSLY)

Creative Planning cut its position in Fastly, Inc. (NYSE:FSLY) by 34.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,410 shares of the company’s stock after selling 10,365 shares during the period. Creative Planning’s holdings in Fastly were worth $147,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in Fastly in the second quarter worth about $38,000. Cambridge Trust Co. purchased a new position in Fastly in the first quarter worth about $39,000. Cape Investment Advisory Inc. raised its holdings in Fastly by 27,666.7% in the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after buying an additional 4,150 shares during the last quarter. EMC Capital Management raised its holdings in Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after buying an additional 6,000 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Fastly by 95.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after acquiring an additional 4,318 shares during the period. 79.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 49,178 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the transaction, the chief technology officer now directly owns 6,155,822 shares in the company, valued at $49,677,483.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO Artur Bergman sold 49,178 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the transaction, the chief technology officer now owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 66,066 shares of the business’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 $408,287.88. Following the completion of the transaction, the chief executive officer now directly owns 1,662,952 shares in the company, valued at $10,277,043.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,628 shares of company stock worth $1,287,959 over the last three months. 6.70% of the stock is currently owned by company insiders.

Fastly Stock Performance

Shares of NYSE FSLY opened at $7.18 on Tuesday. The firm has a market capitalization of $995.15 million, a price-to-earnings ratio of -6.70 and a beta of 1.24. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87. The firm has a 50 day moving average of $7.09 and a 200 day moving average of $7.54. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.33) earnings per share. On average, research analysts anticipate that Fastly, Inc. will post -0.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FSLY. 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 note on Tuesday, August 27th. DA Davidson lifted their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Craig Hallum lifted their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.94.

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.