Quadrature Capital Ltd Purchases 51,224 Shares of Fastly, Inc. (NYSE:FSLY)

Quadrature Capital Ltd boosted its stake in Fastly, Inc. (NYSE:FSLY - Free Report) by 84.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,085 shares of the company's stock after purchasing an additional 51,224 shares during the period. Quadrature Capital Ltd owned about 0.08% of Fastly worth $848,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new position in Fastly in the 2nd quarter valued at approximately $38,000. FMR LLC grew its stake in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company's stock worth $48,000 after purchasing an additional 3,522 shares during the last quarter. EMC Capital Management increased its holdings in Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company's stock valued at $54,000 after purchasing an additional 6,000 shares during the period. Daiwa Securities Group Inc. raised its position in 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 purchasing an additional 4,318 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Fastly during the 3rd quarter worth about $89,000. Institutional investors and hedge funds own 79.71% of the company's stock.

Insider Buying and Selling at Fastly

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

Fastly Stock Up 9.8 %

NYSE FSLY traded up $0.97 on Friday, hitting $10.90. 6,279,097 shares of the company were exchanged, compared to its average volume of 3,619,742. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.53 billion, a PE ratio of -10.00 and a beta of 1.27. The stock has a fifty day moving average of $7.64 and a 200-day moving average of $7.31. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $25.87.

Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping 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 company had revenue of $137.21 million for the quarter, compared to analysts' expectations of $131.86 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The business's revenue was up 7.3% on a year-over-year basis. As a group, analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FSLY has been the subject of several recent research reports. Robert W. Baird increased their price target on Fastly from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Morgan Stanley decreased their target price on shares of Fastly from $12.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 27th. DA Davidson boosted their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Piper Sandler upped their price objective on shares of Fastly from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Raymond James downgraded shares of Fastly from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. One 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.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.55.

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.