Fastly, Inc. (NYSE:FSLY) Holdings Cut by Amundi

Amundi cut its stake in Fastly, Inc. (NYSE:FSLY - Free Report) by 85.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FSLY. Intech Investment Management LLC bought a new stake in shares of Fastly during the third quarter valued at approximately $328,000. Charles Schwab Investment Management Inc. increased its position 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 valued at $8,006,000 after acquiring an additional 161,070 shares during the period. Penserra Capital Management LLC raised its stake in Fastly by 18.8% during the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company's stock valued at $38,418,000 after acquiring an additional 801,968 shares in the last quarter. Bank of Montreal Can boosted its position in Fastly by 11,140.2% during 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 period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Fastly by 5.2% in the third quarter. The Manufacturers Life Insurance Company now owns 71,876 shares of the company's stock worth $544,000 after purchasing an additional 3,575 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Fastly Price Performance

Shares of NYSE:FSLY traded up $0.12 on Monday, reaching $7.23. 2,541,453 shares of the company traded hands, compared to its average volume of 3,288,245. The stock has a market capitalization of $1.03 billion, a PE ratio of -6.34 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The company's 50 day moving average is $8.43 and its 200-day moving average is $8.23. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $14.12.

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Fastly (NYSE:FSLY - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. As a group, analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Todd Nightingale sold 8,595 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $6.87, for a total value of $59,047.65. Following the completion of the sale, the chief executive officer now owns 1,544,706 shares of the company's stock, valued at $10,612,130.22. This trade represents a 0.55 % 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 Fastly stock in a transaction on Monday, January 6th. The shares were 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 represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,699 shares of company stock worth $1,486,150 over the last ninety days. 6.70% of the stock is currently owned by company insiders.

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.