Fmr LLC Increases Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Fmr LLC lifted its position in shares of Fastly, Inc. (NYSE:FSLY) by 124.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,357 shares of the company’s stock after buying an additional 3,522 shares during the quarter. Fmr LLC’s holdings in Fastly were worth $48,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FSLY. The Manufacturers Life Insurance Company grew its position in shares of Fastly by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after purchasing an additional 2,128 shares during the last quarter. Blue Trust Inc. raised its stake in Fastly by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after purchasing an additional 2,296 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Fastly by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,130 shares of the company’s stock valued at $222,000 after purchasing an additional 3,124 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Fastly by 10.3% during the 2nd quarter. Arizona State Retirement System now owns 35,690 shares of the company’s stock worth $263,000 after purchasing an additional 3,338 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after purchasing an additional 4,318 shares during the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

Fastly Stock Down 1.3 %

FSLY opened at $10.04 on Wednesday. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The firm has a 50 day moving average price of $8.35 and a 200 day moving average price of $7.49. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The company has a market cap of $1.41 billion, a PE ratio of -9.21 and a beta of 1.27.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Fastly, Inc. will post -0.86 earnings per share for the current year.

Insider Transactions at Fastly

In other news, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the transaction, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. The trade was a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00. Following the sale, the chief technology officer now directly owns 3,444,136 shares of the company’s stock, valued at approximately $41,364,073.36. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,641 shares of company stock valued at $1,740,518 over the last quarter. Company insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Robert W. Baird increased their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. DA Davidson lifted their price objective on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler upped their target price on Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.55.

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.