Proficio Capital Partners LLC Acquires Shares of 19,182 Fastly, Inc. (NYSE:FSLY)

Proficio Capital Partners LLC bought a new position in shares of Fastly, Inc. (NYSE:FSLY) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 19,182 shares of the company’s stock, valued at approximately $181,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FSLY. Bank of Montreal Can increased its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fastly by 18.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock valued at $8,006,000 after purchasing an additional 161,070 shares during the period. SG Americas Securities LLC increased its stake in shares of Fastly by 56.6% during the fourth quarter. SG Americas Securities LLC now owns 346,632 shares of the company’s stock worth $3,272,000 after purchasing an additional 125,275 shares in the last quarter. Zacks Investment Management acquired a new position in shares of Fastly during the 3rd quarter worth about $914,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Fastly during the 3rd quarter worth about $679,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analysts Set New Price Targets

FSLY has been the subject of several research reports. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Citigroup boosted their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Royal Bank of Canada decreased their price objective on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Finally, Oppenheimer initiated coverage on shares of Fastly in a report on Thursday, March 20th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.55.

Fastly Stock Down 2.4 %

NYSE FSLY opened at $6.71 on Friday. The business’s fifty day simple moving average is $8.25 and its 200-day simple moving average is $8.23. 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 firm has a market cap of $954.26 million, a PE ratio of -5.88 and a beta of 1.31. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $14.12.

Fastly (NYSE:FSLY) last issued its 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 return on equity of 12.75% and a negative net margin of 29.07%. As a group, equities analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current year.

Insider Activity

In other Fastly news, CFO Ronald W. Kisling sold 12,500 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $125,000.00. Following the completion of the transaction, the chief financial officer now owns 525,850 shares of the company’s stock, valued at $5,258,500. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Todd Nightingale sold 35,509 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,699 shares of company stock valued at $1,486,150. 6.70% of the stock is currently owned by company insiders.

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.