Charles Schwab Investment Management Inc. Buys 161,070 Shares of Fastly, Inc. (NYSE:FSLY)

Charles Schwab Investment Management Inc. boosted its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 18.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,057,642 shares of the company's stock after purchasing an additional 161,070 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.76% of Fastly worth $8,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in shares of Fastly during the second quarter valued at about $38,000. EMC Capital Management raised its position in shares of Fastly by 400.0% during the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company's stock worth $54,000 after buying an additional 6,000 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company's stock worth $65,000 after buying an additional 4,318 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Fastly during the 3rd quarter worth about $89,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Fastly during the 2nd quarter worth about $103,000. 79.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FSLY. Oppenheimer raised Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 target price on the stock in a report on Monday, December 2nd. 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 report on Thursday, November 7th. Morgan Stanley dropped their price target on shares of Fastly from $12.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 27th. Robert W. Baird boosted 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. Finally, DA Davidson boosted their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.55.

Insider Activity

In related news, CTO Artur Bergman sold 16,922 shares of the 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 $105,762.50. Following the transaction, the chief technology officer now owns 6,138,900 shares in the company, valued at approximately $38,368,125. This represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Nightingale sold 49,816 shares of the 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 $311,350.00. Following the completion of the transaction, the chief executive officer now owns 1,600,973 shares in the company, valued at $10,006,081.25. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,241 shares of company stock worth $1,699,684 in the last 90 days. Company insiders own 6.70% of the company's stock.

Fastly Stock Up 2.2 %

NYSE:FSLY traded up $0.23 during trading hours on Wednesday, hitting $10.55. 3,093,608 shares of the stock traded hands, compared to its average volume of 3,602,095. The firm has a 50 day moving average price of $7.78 and a 200 day moving average price of $7.33. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -9.84 and a beta of 1.27.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Fastly's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) earnings per share. Equities research analysts anticipate that Fastly, Inc. will post -0.86 earnings per share for the current year.

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.