Legal & General Group Plc raised its stake in Fastly, Inc. (NYSE:FSLY - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,025,959 shares of the company's stock after buying an additional 189,667 shares during the quarter. Legal & General Group Plc owned about 5.72% of Fastly worth $75,765,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. AlphaQuest LLC raised its position in shares of Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock worth $44,000 after acquiring an additional 2,960 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after buying an additional 3,221 shares in the last quarter. FMR LLC increased its position in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company's stock worth $48,000 after buying an additional 3,522 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Fastly during the fourth quarter worth about $72,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Fastly in the 4th quarter valued at $83,000. Hedge funds and other institutional investors own 79.71% of the company's stock.
Wall Street Analysts Forecast Growth
FSLY has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Royal Bank of Canada lowered their price objective on Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Oppenheimer assumed coverage on shares of Fastly in a report on Thursday, March 20th. They issued a "market perform" rating for the company. Piper Sandler cut their target price on Fastly from $9.00 to $6.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley decreased their target price on shares of Fastly from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, Fastly presently has an average rating of "Hold" and an average price target of $8.25.
Check Out Our Latest Analysis on Fastly
Insiders Place Their Bets
In other news, CEO Todd Nightingale sold 35,509 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the completion of the sale, the chief executive officer now owns 1,553,301 shares of the company's stock, valued at approximately $12,488,540.04. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Artur Bergman sold 10,000 shares of the business's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $10.12, for a total transaction of $101,200.00. Following the completion of the transaction, the chief technology officer now owns 3,384,136 shares in the company, valued at approximately $34,247,456.32. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,112 shares of company stock valued at $1,299,119 over the last ninety days. 6.70% of the stock is currently owned by company insiders.
Fastly Trading Up 0.8 %
NYSE FSLY traded up $0.04 during trading hours on Thursday, hitting $5.36. The company's stock had a trading volume of 481,079 shares, compared to its average volume of 3,323,590. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a twelve month low of $4.65 and a twelve month high of $13.36. The firm has a market capitalization of $763.30 million, a P/E ratio of -4.68 and a beta of 1.43. The stock has a fifty day moving average of $6.82 and a 200 day moving average of $8.09.
Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Equities research analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.
Fastly Profile
(
Free Report)
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.
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