First Eagle Investment Management LLC Takes $3.19 Million Position in Fastly, Inc. (NYSE:FSLY)

First Eagle Investment Management LLC bought a new stake in Fastly, Inc. (NYSE:FSLY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 338,173 shares of the company's stock, valued at approximately $3,192,000. First Eagle Investment Management LLC owned 0.24% of Fastly at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FSLY. Entropy Technologies LP boosted its stake in Fastly by 118.7% during the 3rd quarter. Entropy Technologies LP now owns 39,803 shares of the company's stock valued at $301,000 after acquiring an additional 21,600 shares during the last quarter. Aigen Investment Management LP bought a new position in Fastly during the 3rd quarter valued at $89,000. Intech Investment Management LLC bought a new position in Fastly during the 3rd quarter valued at $328,000. Charles Schwab Investment Management Inc. boosted its stake in Fastly by 18.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company's stock valued at $8,006,000 after acquiring an additional 161,070 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in 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 acquiring an additional 801,968 shares during the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 10,000 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $10.58, for a total transaction of $105,800.00. Following the transaction, the chief technology officer now owns 3,364,136 shares of the company's stock, valued at approximately $35,592,558.88. This trade represents a 0.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Nightingale sold 8,595 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total transaction of $59,047.65. Following the transaction, the chief executive officer now directly owns 1,544,706 shares in the company, valued at approximately $10,612,130.22. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,699 shares of company stock valued at $1,587,050. Company insiders own 6.70% of the company's stock.

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Fastly Stock Performance

Shares of FSLY stock traded down $0.12 during trading hours on Thursday, reaching $7.00. The stock had a trading volume of 2,772,849 shares, compared to its average volume of 3,275,906. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $14.12. The firm has a 50-day simple moving average of $8.52 and a 200-day simple moving average of $8.20. The firm has a market capitalization of $995.39 million, a PE ratio of -6.14 and a beta of 1.31.

Fastly (NYSE:FSLY - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. As a group, equities analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of recent research reports. Citigroup raised their price target on shares of Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Oppenheimer initiated coverage on shares of Fastly in a research report on Thursday. They issued a "market perform" rating on the stock. Royal Bank of Canada reduced their price target on shares of Fastly from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Finally, Piper Sandler restated a "neutral" rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $8.55.

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.