International Assets Investment Management LLC Increases Position in Fastly, Inc. (NYSE:FSLY)

International Assets Investment Management LLC boosted its holdings in shares of Fastly, Inc. (NYSE:FSLY) by 308.0% in the 3rd quarter, Holdings Channel reports. The fund owned 76,101 shares of the company’s stock after acquiring an additional 57,448 shares during the quarter. International Assets Investment Management LLC’s holdings in Fastly were worth $5,760,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FSLY. Point72 DIFC Ltd purchased a new stake in Fastly during the 2nd quarter valued at about $38,000. Cambridge Trust Co. purchased a new stake in shares of Fastly in the 1st quarter valued at approximately $39,000. Cape Investment Advisory Inc. grew its stake in shares of Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after buying an additional 4,150 shares during the period. EMC Capital Management grew its stake in shares of Fastly by 400.0% in the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after buying an additional 6,000 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Fastly by 95.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after buying an additional 4,318 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Insiders Place Their Bets

In other Fastly news, CFO Ronald W. Kisling sold 7,449 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the sale, the chief financial officer now directly owns 558,564 shares in the company, valued at $4,044,003.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO Artur Bergman sold 19,889 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now directly owns 6,205,000 shares in the company, valued at approximately $36,981,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the completion of the sale, the chief financial officer now owns 558,564 shares in the company, valued at $4,044,003.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock worth $891,093 in the last ninety days. 6.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FSLY shares. Raymond James cut shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Craig Hallum dropped their price target on shares of Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Piper Sandler cut shares of 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 research note on Thursday, August 8th. Finally, Morgan Stanley dropped their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.81.

Fastly Stock Performance

NYSE:FSLY opened at $7.23 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13. The stock has a market capitalization of $1.00 billion, a P/E ratio of -7.23 and a beta of 1.22. The company has a 50 day moving average price of $6.90 and a 200 day moving average price of $7.81. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 31.02% and a negative return on equity of 15.22%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.32) EPS. Equities research analysts forecast 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.