Blue Trust Inc. Has $128,000 Position in Fastly, Inc. (NYSE:FSLY)

Blue Trust Inc. raised its stake in shares of Fastly, Inc. (NYSE:FSLY) by 15.2% in the third quarter, Holdings Channel reports. The fund owned 17,420 shares of the company’s stock after acquiring an additional 2,296 shares during the period. Blue Trust Inc.’s holdings in Fastly were worth $128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Fastly by 5.1% during the 1st 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. Jennison Associates LLC bought a new stake in Fastly during the first quarter worth about $13,724,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after buying an additional 466,560 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Fastly by 461.5% during the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after buying an additional 621,680 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Fastly by 11.6% in the first quarter. BNP Paribas Financial Markets now owns 305,797 shares of the company’s stock valued at $3,966,000 after acquiring an additional 31,749 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Insider Buying and Selling at Fastly

In other Fastly news, CEO Todd Nightingale sold 66,066 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88. Following the completion of the sale, the chief executive officer now owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Todd Nightingale sold 66,066 shares of the business’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 approximately $10,277,043.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total value of $53,930.76. Following the completion of the sale, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,450 shares of company stock valued at $891,093. 6.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FSLY has been the subject of a number of recent analyst reports. Piper Sandler cut Fastly from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $6.00 in a report on Thursday, August 8th. Morgan Stanley lowered their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 27th. Craig Hallum reduced their price target on shares of Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.81.

Fastly Trading Up 0.7 %

Shares of FSLY opened at $7.33 on Tuesday. The stock’s fifty day simple moving average is $6.84 and its 200-day simple moving average is $7.87. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.02 billion, a PE ratio of -5.91 and a beta of 1.22. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The company had revenue of $132.37 million for the quarter, compared to the consensus estimate of $131.62 million. During the same period in the prior year, the company posted ($0.32) EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that Fastly, Inc. will post -0.96 earnings per share for the current year.

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.