Daiwa Securities Group Inc. Has $65,000 Holdings in Fastly, Inc. (NYSE:FSLY)

Daiwa Securities Group Inc. increased its stake in shares of Fastly, Inc. (NYSE:FSLY) by 95.3% during the second quarter, HoldingsChannel.com reports. The fund owned 8,849 shares of the company’s stock after purchasing an additional 4,318 shares during the period. Daiwa Securities Group Inc.’s holdings in Fastly were worth $65,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in Fastly by 24.8% during the fourth quarter. Victory Capital Management Inc. now owns 16,128 shares of the company’s stock valued at $287,000 after purchasing an additional 3,208 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Fastly by 57.5% during the 4th quarter. Private Advisor Group LLC now owns 16,103 shares of the company’s stock worth $287,000 after buying an additional 5,880 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Fastly by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 947,741 shares of the company’s stock valued at $16,870,000 after buying an additional 30,869 shares during the last quarter. Jump Financial LLC bought a new position in Fastly in the 4th quarter worth $541,000. Finally, Norges Bank acquired a new position in Fastly during the 4th quarter worth $8,014,000. 79.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

FSLY has been the topic of several research analyst reports. Craig Hallum lowered their price target on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Piper Sandler lowered Fastly from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $10.00 to $6.00 in a report on Thursday, August 8th. Morgan Stanley cut their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Finally, Raymond James lowered their price objective on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.81.

Insider Buying and Selling

In related news, CTO Artur Bergman sold 19,889 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the transaction, the chief technology officer now directly owns 6,205,000 shares of the company’s stock, valued at $36,981,800. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fastly news, CTO Artur Bergman sold 19,889 shares of Fastly stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total transaction of $118,538.44. Following the completion of the transaction, the chief technology officer now directly owns 6,205,000 shares of the company’s stock, valued at $36,981,800. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 15,933 shares of Fastly stock in a transaction 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 transaction, the chief financial officer now directly owns 570,124 shares of the company’s stock, valued at $3,523,366.32. The disclosure for this sale can be found here. Insiders sold a total of 155,450 shares of company stock valued at $990,251 over the last ninety days. 6.70% of the stock is owned by company insiders.

Fastly Trading Up 6.0 %

Shares of Fastly stock opened at $7.37 on Wednesday. The company’s fifty day simple moving average is $6.80 and its 200-day simple moving average is $9.06. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -7.37 and a beta of 1.20. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. Fastly’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned ($0.32) earnings per share. As a group, sell-side analysts expect that Fastly, Inc. will post -0.96 EPS for the current 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.