Fastly, Inc. (NYSE:FSLY) Holdings Raised by Private Advisor Group LLC

Private Advisor Group LLC lifted its stake in shares of Fastly, Inc. (NYSE:FSLY) by 155.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,133 shares of the company’s stock after acquiring an additional 25,030 shares during the quarter. Private Advisor Group LLC’s holdings in Fastly were worth $533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Fastly by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock worth $133,000 after purchasing an additional 863 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Fastly by 13.4% during the 1st quarter. Principal Financial Group Inc. now owns 16,063 shares of the company’s stock valued at $208,000 after acquiring an additional 1,897 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Fastly by 1,420.9% during the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after acquiring an additional 1,975 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Fastly by 24.8% in the 4th quarter. Victory Capital Management Inc. now owns 16,128 shares of the company’s stock worth $287,000 after acquiring an additional 3,208 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Fastly by 20.0% during the fourth quarter. Handelsbanken Fonder AB now owns 19,800 shares of the company’s stock worth $352,000 after purchasing an additional 3,300 shares during the period. Institutional investors own 79.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. DA Davidson cut Fastly from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $24.00 to $8.50 in a research note on Thursday, May 2nd. Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and cut their target price for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd. Royal Bank of Canada decreased their target price on Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, May 2nd. Citigroup lowered their target price on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Finally, Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $19.00 to $16.00 in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.44.

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $7.27, for a total value of $87,240.00. Following the sale, the chief financial officer now owns 593,506 shares of the company’s stock, valued at approximately $4,314,788.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Todd Nightingale sold 65,447 shares of Fastly stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $578,551.48. Following the completion of the transaction, the chief executive officer now directly owns 1,741,181 shares of the company’s stock, valued at approximately $15,392,040.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $7.27, for a total transaction of $87,240.00. Following the sale, the chief financial officer now directly owns 593,506 shares in the company, valued at $4,314,788.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,254 shares of company stock valued at $1,208,322. Corporate insiders own 6.70% of the company’s stock.

Fastly Stock Performance

Shares of FSLY opened at $7.44 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83. Fastly, Inc. has a one year low of $6.77 and a one year high of $25.87. The company’s fifty day moving average price is $7.81 and its 200 day moving average price is $12.94. The company has a market capitalization of $1.02 billion, a PE ratio of -7.44 and a beta of 1.13.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The business had revenue of $133.52 million for the quarter, compared to analyst estimates of $133.01 million. As a group, analysts expect that Fastly, Inc. will post -1.08 earnings per share for the current year.

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.