Jacobs Levy Equity Management Inc. Makes New $679,000 Investment in Fastly, Inc. (NYSE:FSLY)

Jacobs Levy Equity Management Inc. acquired a new stake in Fastly, Inc. (NYSE:FSLY - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 89,744 shares of the company's stock, valued at approximately $679,000. Jacobs Levy Equity Management Inc. owned 0.06% of Fastly at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Firsthand Capital Management Inc. lifted its position in Fastly by 150.0% in the third quarter. Firsthand Capital Management Inc. now owns 50,000 shares of the company's stock valued at $378,000 after buying an additional 30,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Fastly by 17.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,524 shares of the company's stock valued at $269,000 after purchasing an additional 5,394 shares during the last quarter. FMR LLC raised its position in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company's stock valued at $48,000 after purchasing an additional 3,522 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Fastly by 5.2% during the third quarter. The Manufacturers Life Insurance Company now owns 71,876 shares of the company's stock worth $544,000 after purchasing an additional 3,575 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Fastly by 11,140.2% during the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company's stock worth $9,867,000 after buying an additional 1,293,490 shares during the period. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Price Performance

Shares of NYSE:FSLY traded down $0.81 during trading on Tuesday, hitting $10.53. 3,544,650 shares of the stock were exchanged, compared to its average volume of 3,593,616. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87. The company has a market cap of $1.48 billion, a PE ratio of -9.81 and a beta of 1.27. The company has a fifty day moving average price of $7.72 and a two-hundred day moving average price of $7.32. 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 (NYSE:FSLY - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $131.86 million. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts forecast that Fastly, Inc. will post -0.86 EPS for the current year.

Wall Street Analyst Weigh In

FSLY has been the topic of several analyst reports. Morgan Stanley reduced their price objective on Fastly from $12.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 27th. Royal Bank of Canada upped their target price 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 target on shares of Fastly from $5.50 to $7.50 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, Oppenheimer raised shares of Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 price objective for the company in a research report on Monday, December 2nd. One equities research 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's stock. According to MarketBeat.com, Fastly presently has an average rating of "Hold" and an average target price of $8.55.

Insider Buying and Selling

In other news, CTO Artur Bergman sold 29,641 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $10.02, for a total transaction of $297,002.82. Following the completion of the sale, the chief technology officer now directly owns 6,058,595 shares of the company's stock, valued at $60,707,121.90. The trade was a 0.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ronald W. Kisling sold 7,449 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the completion of the transaction, the chief financial officer now directly owns 558,564 shares in the company, valued at $4,044,003.36. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,241 shares of company stock worth $1,699,684. 6.70% of the stock is owned by insiders.

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.