Fastly, Inc. (NYSE:FSLY) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 77.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,357 shares of the company's stock after purchasing an additional 96,664 shares during the quarter. SG Americas Securities LLC owned approximately 0.16% of Fastly worth $1,676,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC acquired a new position in shares of Fastly during the first quarter worth $13,724,000. Vanguard Group Inc. increased its position in Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company's stock valued at $176,152,000 after buying an additional 657,334 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company's stock valued at $5,575,000 after buying an additional 621,680 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Fastly by 94.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company's stock worth $12,453,000 after acquiring an additional 466,560 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Fastly during the second quarter worth about $1,233,000. Institutional investors own 79.71% of the company's stock.

Fastly Price Performance

NYSE:FSLY traded up $0.10 during trading hours on Wednesday, reaching $7.40. 1,977,221 shares of the company were exchanged, compared to its average volume of 3,645,155. The stock's 50-day moving average is $6.67 and its 200-day moving average is $8.44. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87. The firm has a market cap of $1.01 billion, a PE ratio of -7.40 and a beta of 1.22. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. Fastly's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.32) EPS. On average, sell-side analysts anticipate that Fastly, Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Fastly

In other Fastly news, CEO Todd Nightingale sold 66,066 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $408,287.88. Following the transaction, the chief executive officer now owns 1,662,952 shares of the company's stock, valued at approximately $10,277,043.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Ronald W. Kisling sold 7,449 shares of the firm's stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $8.84, for a total transaction of $65,849.16. Following the completion of the sale, the chief financial officer now owns 586,057 shares in the company, valued at $5,180,743.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Nightingale sold 66,066 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $408,287.88. Following the completion of the transaction, the chief executive officer now owns 1,662,952 shares in the company, valued at $10,277,043.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,450 shares of company stock worth $903,011. Insiders own 6.70% of the company's stock.

Analyst Ratings Changes

FSLY has been the subject of several research reports. Piper Sandler downgraded shares of Fastly from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $10.00 to $6.00 in a research note on Thursday, August 8th. Morgan Stanley lowered their price target on Fastly from $12.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 27th. Craig Hallum dropped their price target on Fastly from $10.00 to $6.00 and set a "hold" rating on the stock in a research note on Thursday, August 8th. Finally, Raymond James cut Fastly from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $7.81.

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.