Capstone Investment Advisors LLC Reduces Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Capstone Investment Advisors LLC decreased its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 92.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 375,802 shares of the company's stock after selling 4,660,954 shares during the quarter. Capstone Investment Advisors LLC owned about 0.27% of Fastly worth $2,845,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its position in shares of 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 buying an additional 801,968 shares during the period. Vanguard Group Inc. lifted its stake in shares of Fastly by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company's stock valued at $176,152,000 after purchasing an additional 657,334 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Fastly during the 2nd quarter worth about $586,000. SG Americas Securities LLC raised its holdings in Fastly by 77.5% in the 3rd quarter. SG Americas Securities LLC now owns 221,357 shares of the company's stock valued at $1,676,000 after buying an additional 96,664 shares during the period. Finally, Marshall Wace LLP boosted its stake in Fastly by 1,197.4% during the second quarter. Marshall Wace LLP now owns 151,172 shares of the company's stock worth $1,114,000 after buying an additional 139,520 shares during the period. Institutional investors and hedge funds own 79.71% of the company's stock.

Fastly Stock Up 7.1 %

FSLY traded up $0.56 on Friday, reaching $8.48. The company's stock had a trading volume of 2,097,401 shares, compared to its average volume of 3,518,302. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.27 and a beta of 1.24. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. 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 stock has a 50 day moving average of $7.36 and a two-hundred day moving average of $7.28.

Fastly (NYSE:FSLY - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. During the same period last year, the firm posted ($0.33) EPS. The company's revenue was up 7.3% on a year-over-year basis. As a group, analysts forecast that Fastly, Inc. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 16,102 shares of Fastly stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $100,637.50. Following the transaction, the chief financial officer now directly owns 542,462 shares in the company, valued at approximately $3,390,387.50. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 12,163 shares of Fastly stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.12, for a total transaction of $98,763.56. Following the completion of the sale, the chief executive officer now directly owns 1,588,810 shares in the company, valued at approximately $12,901,137.20. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,439 shares of company stock worth $1,209,560. Corporate insiders own 6.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Craig Hallum upped their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a "hold" rating in a report on Thursday, November 7th. Raymond James lowered Fastly from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 7th. DA Davidson lifted their price objective on shares of Fastly from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Piper Sandler upped their price objective on Fastly from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, Fastly currently has a consensus rating of "Hold" and a consensus price target of $7.94.

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.