Public Employees Retirement System of Ohio Buys Shares of 24,127 Fastly, Inc. (NYSE:FSLY)

Public Employees Retirement System of Ohio purchased a new stake in shares of Fastly, Inc. (NYSE:FSLY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,127 shares of the company’s stock, valued at approximately $183,000.

A number of other institutional investors have also modified their holdings of the company. Penserra Capital Management LLC lifted its position in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after acquiring an additional 801,968 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Fastly by 11,140.2% during the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Fastly by 18.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after purchasing an additional 161,070 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Fastly by 461.5% during the 2nd 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 during the last quarter. Finally, SG Americas Securities LLC increased its position in Fastly by 77.5% during the 3rd quarter. SG Americas Securities LLC now owns 221,357 shares of the company’s stock valued at $1,676,000 after buying an additional 96,664 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Fastly Stock Performance

NYSE FSLY opened at $10.08 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of -9.25 and a beta of 1.27. The stock has a 50-day simple moving average of $8.29 and a two-hundred day simple moving average of $7.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. During the same period last year, the business earned ($0.33) earnings per share. Fastly’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on FSLY. Piper Sandler raised their price target on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. DA Davidson lifted their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Craig Hallum lifted their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.55.

Insider Activity at Fastly

In other news, CFO Ronald W. Kisling sold 16,102 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $100,637.50. Following the transaction, the chief financial officer now owns 542,462 shares in the company, valued at $3,390,387.50. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Artur Bergman sold 3,400 shares of Fastly stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00. Following the completion of the sale, the chief technology officer now directly owns 3,444,136 shares in the company, valued at $41,364,073.36. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,641 shares of company stock worth $1,740,518 in the last three months. Company insiders own 6.70% of the company’s stock.

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.