Vanguard Group Inc. Buys 192,076 Shares of Fastly, Inc. (NYSE:FSLY)

Vanguard Group Inc. grew its stake in shares of Fastly, Inc. (NYSE:FSLY) by 1.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,924,190 shares of the company’s stock after acquiring an additional 192,076 shares during the period. Vanguard Group Inc. owned about 9.63% of Fastly worth $230,051,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allworth Financial LP grew its holdings in Fastly by 1,420.9% during the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock valued at $38,000 after purchasing an additional 1,975 shares during the period. International Assets Investment Management LLC bought a new position in shares of Fastly during the 4th quarter worth $61,000. Quest Partners LLC purchased a new stake in Fastly in the 4th quarter worth about $102,000. Neo Ivy Capital Management raised its stake in Fastly by 231.6% in the 3rd quarter. Neo Ivy Capital Management now owns 6,028 shares of the company’s stock valued at $116,000 after acquiring an additional 4,210 shares during the period. Finally, Strs Ohio lifted its holdings in Fastly by 100.0% during the fourth quarter. Strs Ohio now owns 6,800 shares of the company’s stock valued at $121,000 after purchasing an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

FSLY has been the subject of several recent research reports. Royal Bank of Canada reduced their target price on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $19.00 to $16.00 in a report on Monday, April 8th. Citigroup cut their price target on Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. DA Davidson lowered Fastly from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $24.00 to $8.50 in a research note on Thursday, May 2nd. Finally, Bank of America downgraded Fastly from a “buy” rating to an “underperform” rating and cut their target price for the stock from $18.00 to $8.00 in a research note on Thursday, May 2nd. 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 assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $14.44.

Fastly Price Performance

Fastly stock opened at $7.23 on Tuesday. The business has a 50-day simple moving average of $8.73 and a 200 day simple moving average of $13.73. Fastly, Inc. has a 52 week low of $6.77 and a 52 week high of $25.87. The stock has a market cap of $987.89 million, a price-to-earnings ratio of -7.23 and a beta of 1.11. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. The company had revenue of $133.52 million during the quarter, compared to analyst estimates of $133.01 million. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. On average, research analysts forecast that Fastly, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 7,486 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the transaction, the chief financial officer now directly owns 632,736 shares in the company, valued at $8,225,568. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Todd Nightingale sold 12,163 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $8.92, for a total transaction of $108,493.96. Following the transaction, the chief executive officer now directly owns 1,729,018 shares of the company’s stock, valued at approximately $15,422,840.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ronald W. Kisling sold 7,486 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the sale, the chief financial officer now owns 632,736 shares of the company’s stock, valued at approximately $8,225,568. The disclosure for this sale can be found here. Insiders have sold 123,254 shares of company stock valued at $1,121,082 in the last quarter. Insiders own 6.70% of the company’s stock.

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.