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

Creative Planning decreased its holdings in shares of Fastly, Inc. (NYSE:FSLY) by 34.8% during the third quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Fastly by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock valued at $133,000 after acquiring an additional 863 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of Fastly by 41.1% in the first quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after purchasing an additional 1,643 shares during the last quarter. CWM LLC grew its holdings in shares of Fastly by 10.5% in the second quarter. CWM LLC now owns 22,266 shares of the company’s stock worth $164,000 after purchasing an additional 2,121 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings 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 worth $503,000 after purchasing an additional 2,128 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Fastly by 10.2% in the first quarter. ProShare Advisors LLC now owns 25,556 shares of the company’s stock worth $331,000 after purchasing an additional 2,367 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FSLY. Morgan Stanley cut their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Piper Sandler upped their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Raymond James cut shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, DA Davidson increased their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.94.

Fastly Stock Down 6.4 %

Shares of Fastly stock opened at $7.18 on Tuesday. The stock has a market cap of $995.15 million, a price-to-earnings ratio of -6.70 and a beta of 1.24. The firm’s 50-day moving average is $7.09 and its two-hundred day moving average is $7.54. 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 released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) earnings per share. As a group, research analysts expect that Fastly, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Fastly

In other Fastly news, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88. Following the completion of the sale, the chief executive officer now directly owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Ronald W. Kisling sold 15,933 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $98,465.94. Following the completion of the transaction, the chief financial officer now directly owns 570,124 shares of the company’s stock, valued at $3,523,366.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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 of the company’s stock, valued at $10,277,043.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,628 shares of company stock valued at $1,287,959. 6.70% of the stock is currently owned by insiders.

Fastly Company 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.