Fastly, Inc. (NYSE:FSLY) Shares Acquired by Zacks Investment Management

Zacks Investment Management increased its holdings in shares of Fastly, Inc. (NYSE:FSLY) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,203 shares of the company’s stock after acquiring an additional 6,424 shares during the quarter. Zacks Investment Management owned approximately 0.09% of Fastly worth $1,201,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in Fastly by 402.8% in the 4th quarter. Alliancebernstein L.P. now owns 844,349 shares of the company’s stock worth $7,971,000 after buying an additional 676,408 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Fastly in the fourth quarter valued at $3,717,000. First Eagle Investment Management LLC purchased a new stake in shares of Fastly during the fourth quarter valued at $3,192,000. Federated Hermes Inc. purchased a new stake in Fastly during the fourth quarter valued at about $1,979,000. Finally, Legal & General Group Plc lifted its position in shares of Fastly by 2.4% in the 4th quarter. Legal & General Group Plc now owns 8,025,959 shares of the company’s stock valued at $75,765,000 after acquiring an additional 189,667 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.

Fastly Trading Up 1.0 %

Shares of FSLY opened at $5.38 on Friday. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $13.36. The stock’s fifty day simple moving average is $6.62 and its 200-day simple moving average is $8.06. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $764.86 million, a PE ratio of -4.71 and a beta of 1.43.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. As a group, research analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 31,551 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $10.31, for a total transaction of $325,290.81. Following the transaction, the chief technology officer now owns 3,394,136 shares of the company’s stock, valued at $34,993,542.16. The trade was a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ronald W. Kisling sold 11,269 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $90,602.76. Following the completion of the sale, the chief financial officer now directly owns 508,543 shares in the company, valued at approximately $4,088,685.72. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,454 shares of company stock valued at $1,327,218. 6.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Oppenheimer started coverage on Fastly in a research report on Thursday, March 20th. They set a “market perform” rating for the company. Morgan Stanley lowered their target price on shares of Fastly from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Royal Bank of Canada decreased their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Piper Sandler lowered their price objective on shares of Fastly from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup boosted their price target on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.25.

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.