Fastly, Inc. (NYSE:FSLY) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC lifted its position in Fastly, Inc. (NYSE:FSLY) by 169.1% in the fourth quarter, Holdings Channel reports. The firm owned 4,710 shares of the company’s stock after acquiring an additional 2,960 shares during the period. AlphaQuest LLC’s holdings in Fastly were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its position in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares during the period. Jones Financial Companies Lllp lifted its position in Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after acquiring an additional 3,221 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Fastly during the 4th quarter worth approximately $149,000. Versor Investments LP acquired a new stake in Fastly during the 4th quarter worth approximately $151,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Fastly during the 4th quarter worth approximately $161,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Todd Nightingale sold 35,509 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total transaction of $285,492.36. Following the sale, the chief executive officer now owns 1,553,301 shares in the company, valued at $12,488,540.04. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Artur Bergman sold 5,304 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.88, for a total value of $36,491.52. Following the sale, the chief technology officer now owns 3,669,058 shares in the company, valued at $25,243,119.04. This trade represents a 0.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,699 shares of company stock valued at $1,587,050. Corporate insiders own 6.70% of the company’s stock.

Fastly Stock Performance

NYSE FSLY opened at $7.00 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The business has a 50 day moving average price of $8.47 and a 200 day moving average price of $8.19. The company has a market capitalization of $995.39 million, a P/E ratio of -6.14 and a beta of 1.31. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $14.12.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Sell-side analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on FSLY. Citigroup increased their price objective on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Piper Sandler reissued a “neutral” rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada reduced their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Finally, Oppenheimer assumed coverage on Fastly in a report on Thursday. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.55.

Fastly 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.