Charles Schwab Investment Management Inc. Acquires 16,533 Shares of Fastly, Inc. (NYSE:FSLY)

Charles Schwab Investment Management Inc. lifted its holdings in Fastly, Inc. (NYSE:FSLY) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,074,175 shares of the company’s stock after buying an additional 16,533 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Fastly were worth $10,140,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after buying an additional 3,221 shares during the last quarter. FMR LLC raised its holdings in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Fastly during the 4th quarter worth about $149,000. Versor Investments LP bought a new stake in Fastly during the 4th quarter worth about $151,000. Finally, SBI Securities Co. Ltd. bought a new stake in Fastly during the 4th quarter worth about $161,000. 79.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

FSLY has been the subject of several analyst reports. Oppenheimer initiated coverage on Fastly in a research report on Thursday. They set a “market perform” rating for the company. Royal Bank of Canada decreased their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Piper Sandler restated a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Finally, Citigroup boosted their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.55.

Insider Activity at Fastly

In other Fastly news, CTO Artur Bergman sold 10,000 shares of the company’s stock in a transaction 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 directly owns 3,434,136 shares of the company’s stock, valued at $34,650,432.24. This represents a 0.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Todd Nightingale sold 35,509 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total value of $285,492.36. Following the completion of the transaction, the chief executive officer now directly owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,699 shares of company stock worth $1,587,050. Company insiders own 6.70% of the company’s stock.

Fastly Trading Up 1.8 %

Shares of Fastly stock opened at $7.13 on Friday. 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 $1.01 billion, a P/E ratio of -6.25 and a beta of 1.31. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $8.43 and its 200-day moving average is $8.22.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Equities research analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current fiscal 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.