Quantbot Technologies LP Grows Position in Fastly, Inc. (NYSE:FSLY)

Quantbot Technologies LP grew its stake in Fastly, Inc. (NYSE:FSLY) by 364.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,824 shares of the company’s stock after buying an additional 53,998 shares during the period. Quantbot Technologies LP owned 0.05% of Fastly worth $893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP boosted its stake in Fastly by 1,420.9% during the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after buying an additional 1,975 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Fastly in the fourth quarter valued at about $61,000. Geneos Wealth Management Inc. purchased a new stake in shares of Fastly in the first quarter valued at about $92,000. Quest Partners LLC acquired a new stake in Fastly during the fourth quarter worth about $102,000. Finally, Strs Ohio raised its stake in Fastly by 100.0% during the fourth quarter. Strs Ohio now owns 6,800 shares of the company’s stock worth $121,000 after purchasing an additional 3,400 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $7.27, for a total transaction of $87,240.00. Following the completion of the sale, the chief financial officer now owns 593,506 shares in the company, valued at approximately $4,314,788.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Todd Nightingale sold 65,447 shares of Fastly stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total value of $578,551.48. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction on 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 owns 593,506 shares of the company’s stock, valued at approximately $4,314,788.62. The disclosure for this sale can be found here. Insiders sold a total of 135,254 shares of company stock worth $1,208,322 over the last 90 days. 6.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Fastly Stock Performance

NYSE FSLY opened at $7.44 on Monday. Fastly, Inc. has a 52 week low of $6.77 and a 52 week high of $25.87. The firm has a 50 day moving average of $7.81 and a two-hundred day moving average of $12.94. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, May 1st. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $133.52 million during the quarter, compared to the consensus estimate of $133.01 million. Sell-side analysts predict that Fastly, Inc. will post -1.08 earnings per share for the current fiscal year.

About Fastly

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.