Aigen Investment Management LP Invests $89,000 in Fastly, Inc. (NYSE:FSLY)

Aigen Investment Management LP purchased a new position in shares of Fastly, Inc. (NYSE:FSLY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,703 shares of the company’s stock, valued at approximately $89,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Fastly by 5.1% during the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after purchasing an additional 657,334 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Fastly by 94.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after acquiring an additional 466,560 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock valued at $5,575,000 after acquiring an additional 621,680 shares in the last quarter. Swiss National Bank raised its holdings in Fastly by 1.4% in the first quarter. Swiss National Bank now owns 232,400 shares of the company’s stock valued at $3,014,000 after acquiring an additional 3,200 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Fastly by 77.5% in the third quarter. SG Americas Securities LLC now owns 221,357 shares of the company’s stock valued at $1,676,000 after acquiring an additional 96,664 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Stock Performance

Shares of FSLY opened at $6.41 on Monday. The company has a current ratio of 3.97, a quick ratio of 4.13 and a debt-to-equity ratio of 0.36. The firm has a market cap of $899.32 million, a PE ratio of -5.88 and a beta of 1.24. The company’s 50 day simple moving average is $7.20 and its 200-day simple moving average is $7.33. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The firm had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. During the same period last year, the firm posted ($0.33) EPS. Fastly’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts predict that Fastly, Inc. will post -0.86 EPS for the current year.

Insider Activity at Fastly

In other Fastly news, CEO Todd Nightingale sold 12,163 shares of Fastly stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $6.25, for a total value of $76,018.75. Following the completion of the sale, the chief executive officer now owns 1,650,789 shares in the company, valued at $10,317,431.25. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Artur Bergman sold 19,889 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the sale, the chief technology officer now owns 6,205,000 shares of the company’s stock, valued at $36,981,800. The trade was a 0.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,790 shares of company stock valued at $670,655. 6.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FSLY. Morgan Stanley reduced their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Craig Hallum raised their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Piper Sandler increased their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson increased their price target on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.94.

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.