Fastly, Inc. (NYSE:FSLY) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC raised its position in Fastly, Inc. (NYSE:FSLY - Free Report) by 18.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,075,127 shares of the company's stock after purchasing an additional 801,968 shares during the quarter. Penserra Capital Management LLC owned 3.66% of Fastly worth $38,418,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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. increased its position in shares of Fastly by 461.5% during the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company's stock worth $5,575,000 after acquiring an additional 621,680 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Fastly during the second quarter valued at approximately $1,233,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fastly by 18.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company's stock valued at $8,006,000 after purchasing an additional 161,070 shares during the period. Finally, Marshall Wace LLP grew its stake in Fastly by 1,197.4% in the second quarter. Marshall Wace LLP now owns 151,172 shares of the company's stock worth $1,114,000 after purchasing an additional 139,520 shares in the last quarter. Institutional investors own 79.71% of the company's stock.

Insider Buying and Selling at Fastly

In other news, CFO Ronald W. Kisling sold 7,449 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the sale, the chief financial officer now owns 558,564 shares of the company's stock, valued at $4,044,003.36. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Nightingale sold 49,816 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $311,350.00. Following the sale, the chief executive officer now owns 1,600,973 shares in the company, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,548 shares of company stock worth $1,094,142. 6.70% of the stock is currently owned by insiders.

Fastly Stock Up 3.7 %

Shares of Fastly stock traded up $0.28 during trading on Friday, reaching $7.89. The company's stock had a trading volume of 4,399,441 shares, compared to its average volume of 3,169,284. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a 50-day simple moving average of $7.29 and a two-hundred day simple moving average of $7.28. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -7.24 and a beta of 1.24.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. Fastly's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.33) EPS. As a group, equities analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FSLY shares. Craig Hallum lifted their target price on Fastly from $6.00 to $8.00 and gave the company a "hold" rating in a research report on Thursday, November 7th. DA Davidson lifted their price objective on Fastly from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Thursday, November 7th. Piper Sandler increased their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Morgan Stanley reduced their price target on shares of Fastly from $12.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday, August 27th. Finally, 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 note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat.com, Fastly presently has an average rating of "Hold" and an average target price of $7.94.

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.