Fastly, Inc. (NYSE:FSLY) Stock Holdings Reduced by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its position in Fastly, Inc. (NYSE:FSLY) by 25.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,368 shares of the company’s stock after selling 2,132 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Fastly were worth $60,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC grew its stake in Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after purchasing an additional 2,960 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Fastly in the fourth quarter valued at about $3,717,000. Proficio Capital Partners LLC purchased a new position in Fastly in the fourth quarter valued at about $181,000. Cornerstone Investment Partners LLC bought a new stake in shares of Fastly during the 4th quarter worth about $249,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Fastly by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,074,175 shares of the company’s stock worth $10,140,000 after acquiring an additional 16,533 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 5,304 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now owns 3,669,058 shares of the company’s stock, valued at $25,243,119.04. This represents a 0.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd Nightingale sold 8,595 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total value of $59,047.65. Following the completion of the transaction, the chief executive officer now directly owns 1,544,706 shares of the company’s stock, valued at approximately $10,612,130.22. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,099 shares of company stock valued at $1,627,884 in the last quarter. Corporate insiders own 6.70% of the company’s stock.

Fastly Price Performance

NYSE FSLY opened at $7.28 on Tuesday. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $14.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock has a market capitalization of $1.04 billion, a PE ratio of -6.38 and a beta of 1.31. The stock has a 50-day simple moving average of $8.62 and a 200 day simple moving average of $8.20.

Fastly (NYSE:FSLY) last posted its quarterly earnings data 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%. Research analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup upped their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and set a $9.00 price target (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Royal Bank of Canada decreased their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Finally, Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastly 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.