BNP Paribas Financial Markets Has $1.80 Million Stock Holdings in Fastly, Inc. (NYSE:FSLY)

BNP Paribas Financial Markets reduced its position in Fastly, Inc. (NYSE:FSLY - Free Report) by 27.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 237,752 shares of the company's stock after selling 90,597 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.17% of Fastly worth $1,800,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC grew its stake in shares of Fastly by 10.5% in the 2nd quarter. CWM LLC now owns 22,266 shares of the company's stock valued at $164,000 after purchasing an additional 2,121 shares during the period. The Manufacturers Life Insurance Company grew its position in Fastly by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company's stock valued at $503,000 after acquiring an additional 2,128 shares during the period. Blue Trust Inc. raised its stake in Fastly by 15.2% during the third quarter. Blue Trust Inc. now owns 17,420 shares of the company's stock worth $128,000 after acquiring an additional 2,296 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Fastly by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,130 shares of the company's stock worth $222,000 after acquiring an additional 3,124 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Fastly by 10.3% during the second quarter. Arizona State Retirement System now owns 35,690 shares of the company's stock valued at $263,000 after acquiring an additional 3,338 shares during the period. Institutional investors and hedge funds own 79.71% of the company's stock.

Fastly Trading Up 9.8 %

Fastly stock traded up $0.97 during trading hours on Friday, reaching $10.90. 6,279,097 shares of the company's stock traded hands, compared to its average volume of 3,619,742. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -10.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The firm's 50 day moving average is $7.64 and its 200-day moving average is $7.31.

Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. During the same period in the prior year, the business posted ($0.33) earnings per share. Fastly's revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

FSLY has been the topic of several analyst reports. Robert W. Baird upped their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Fastly from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Oppenheimer upgraded shares of Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 target price for the company in a research note on Monday, December 2nd. Royal Bank of Canada increased their price target on Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Thursday, November 7th. Finally, Raymond James cut Fastly from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.55.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 7,449 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the sale, the chief financial officer now owns 558,564 shares of the company's stock, valued at approximately $4,044,003.36. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Artur Bergman sold 29,858 shares of Fastly stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.07, for a total value of $300,670.06. Following the transaction, the chief technology officer now owns 6,088,236 shares in the company, valued at approximately $61,308,536.52. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,600 shares of company stock valued at $1,402,681 over the last three months. Company insiders own 6.70% of the company's stock.

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.