Lombard Odier Asset Management USA Corp Makes New $114,000 Investment in Fastly, Inc. (NYSE:FSLY)

Lombard Odier Asset Management USA Corp purchased a new stake in Fastly, Inc. (NYSE:FSLY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,426 shares of the company’s stock, valued at approximately $114,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc increased its holdings in Fastly by 11.1% in the second quarter. Ensign Peak Advisors Inc now owns 59,258 shares of the company’s stock valued at $437,000 after buying an additional 5,900 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Fastly by 118.9% during the 2nd quarter. Hsbc Holdings PLC now owns 29,703 shares of the company’s stock valued at $218,000 after purchasing an additional 16,131 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Fastly in the second quarter worth about $586,000. Daiwa Securities Group Inc. boosted its position in Fastly by 95.3% during the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after purchasing an additional 4,318 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Fastly by 10.3% during the second quarter. Arizona State Retirement System now owns 35,690 shares of the company’s stock valued at $263,000 after acquiring an additional 3,338 shares during the period. 79.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 19,889 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total value of $118,538.44. Following the transaction, the chief technology officer now directly owns 6,205,000 shares of the company’s stock, valued at approximately $36,981,800. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Todd Nightingale sold 66,066 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $408,287.88. Following the completion of the transaction, the chief executive officer now directly owns 1,662,952 shares in the company, valued at $10,277,043.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Artur Bergman sold 19,889 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the sale, the chief technology officer now owns 6,205,000 shares in the company, valued at $36,981,800. The disclosure for this sale can be found here. Insiders have sold a total of 155,450 shares of company stock worth $990,251 in the last quarter. Corporate insiders own 6.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler cut shares of Fastly from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $6.00 in a research note on Thursday, August 8th. Craig Hallum reduced their price objective on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Raymond James lowered their target price on Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley cut their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.81.

Fastly Trading Up 0.7 %

FSLY stock opened at $7.28 on Tuesday. The company has a fifty day moving average price of $6.78 and a two-hundred day moving average price of $8.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The stock has a market cap of $994.72 million, a price-to-earnings ratio of -7.28 and a beta of 1.20. Fastly, Inc. has a one year low of $5.52 and a one year high of $25.87.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The business had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. During the same period last year, the firm posted ($0.32) EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate 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.