Fastly, Inc. (NYSE:FSLY) Shares Bought by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. increased its holdings in Fastly, Inc. (NYSE:FSLY - Free Report) by 239.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,500 shares of the company's stock after purchasing an additional 45,500 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Fastly were worth $609,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its stake in Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company's stock valued at $48,000 after buying an additional 3,522 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Fastly during the third quarter valued at approximately $89,000. Blue Trust Inc. lifted its position in shares of Fastly by 15.2% in the third quarter. Blue Trust Inc. now owns 17,420 shares of the company's stock valued at $128,000 after acquiring an additional 2,296 shares in the last quarter. Wealth Effects LLC boosted its stake in shares of Fastly by 86.9% in the third quarter. Wealth Effects LLC now owns 23,651 shares of the company's stock worth $179,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Fastly during the third quarter worth approximately $183,000. Hedge funds and other institutional investors own 79.71% of the company's stock.

Fastly Trading Down 5.5 %

FSLY stock traded down $0.58 during midday trading on Tuesday, hitting $10.00. 3,150,835 shares of the company's stock were exchanged, compared to its average volume of 2,401,914. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The business has a 50-day simple moving average of $10.01 and a two-hundred day simple moving average of $8.09. The stock has a market capitalization of $1.40 billion, a PE ratio of -9.17 and a beta of 1.26. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FSLY. Oppenheimer upgraded Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 price objective on the stock in a report on Monday, December 2nd. Craig Hallum raised their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a "hold" rating in a research note on Thursday, November 7th. Citigroup upped their price objective on shares of Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. Royal Bank of Canada raised their target price on shares of Fastly from $7.00 to $10.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. Finally, Piper Sandler boosted their target price on Fastly from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Fastly currently has a consensus rating of "Hold" and an average price target of $8.85.

Insider Transactions at Fastly

In related news, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $10.21, for a total value of $102,100.00. Following the completion of the sale, the chief technology officer now owns 3,374,136 shares in the company, valued at approximately $34,449,928.56. This trade represents a 0.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Nightingale sold 49,816 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $311,350.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,973 shares in the company, valued at approximately $10,006,081.25. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,152 shares of company stock worth $2,182,083. 6.70% of the stock is currently owned by company insiders.

Fastly Company 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.