Intech Investment Management LLC Boosts Stake in Fastly, Inc. (NYSE:FSLY)

Intech Investment Management LLC raised its holdings in Fastly, Inc. (NYSE:FSLY) by 52.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 66,196 shares of the company’s stock after acquiring an additional 22,818 shares during the quarter. Intech Investment Management LLC’s holdings in Fastly were worth $625,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. AlphaQuest LLC increased its position in shares of Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after buying an additional 3,221 shares during the last quarter. FMR LLC raised its position in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Fastly during the 4th quarter worth $72,000. Finally, Cibc World Markets Corp purchased a new position in Fastly in the fourth quarter worth $115,000. Institutional investors own 79.71% of the company’s stock.

Insider Activity at Fastly

In other Fastly news, CEO Todd Nightingale sold 35,509 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,553,301 shares in the company, valued at $12,488,540.04. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ronald W. Kisling sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $125,000.00. Following the transaction, the chief financial officer now owns 525,850 shares in the company, valued at $5,258,500. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,699 shares of company stock worth $1,486,150 over the last quarter. Corporate insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of research reports. Citigroup raised their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. 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 report on Thursday, February 13th. Royal Bank of Canada cut their target price 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 assumed coverage on shares of Fastly in a research note on Thursday, March 20th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, Fastly has a consensus rating of “Hold” and an average price target of $8.55.

Fastly Stock Performance

NYSE:FSLY opened at $7.23 on Tuesday. The firm has a market cap of $1.03 billion, a PE ratio of -6.34 and a beta of 1.31. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week 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 business has a 50 day moving average price of $8.40 and a 200-day moving average price of $8.24.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS 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 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.