Amundi Trims Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Amundi decreased its position in Fastly, Inc. (NYSE:FSLY) by 85.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 41,900 shares of the company’s stock after selling 250,759 shares during the period. Amundi’s holdings in Fastly were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSLY. Bank of Montreal Can raised its stake in Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after acquiring an additional 1,293,490 shares during the last quarter. Penserra Capital Management LLC raised its stake in Fastly by 18.8% in the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after acquiring an additional 801,968 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Fastly in the 4th quarter worth $3,717,000. Charles Schwab Investment Management Inc. raised its stake in 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 acquiring an additional 161,070 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Fastly by 56.6% in the 4th quarter. SG Americas Securities LLC now owns 346,632 shares of the company’s stock worth $3,272,000 after acquiring an additional 125,275 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FSLY. Piper Sandler restated a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Royal Bank of Canada reduced their price objective 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. Citigroup lifted their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Oppenheimer started coverage on Fastly in a research note on Thursday. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.55.

Fastly Trading Down 1.6 %

FSLY stock opened at $7.00 on Friday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $14.12. The stock has a market cap of $995.39 million, a price-to-earnings ratio of -6.14 and a beta of 1.31. The business’s 50-day moving average is $8.47 and its 200 day moving average is $8.19.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Todd Nightingale sold 35,509 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,553,301 shares in the company, valued at $12,488,540.04. The trade was a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Artur Bergman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.09, for a total value of $100,900.00. Following the transaction, the chief technology officer now owns 3,434,136 shares in the company, valued at approximately $34,650,432.24. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,699 shares of company stock worth $1,587,050. Insiders own 6.70% of the company’s stock.

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.