Raymond James Financial Inc. acquired a new stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 393,794 shares of the company's stock, valued at approximately $3,717,000. Raymond James Financial Inc. owned 0.28% of Fastly at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Bank of Montreal Can raised its holdings in Fastly by 11,140.2% during the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company's stock valued at $9,867,000 after acquiring an additional 1,293,490 shares during the period. Charles Schwab Investment Management Inc. raised 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 purchasing an additional 161,070 shares during the period. SG Americas Securities LLC lifted its holdings in Fastly by 56.6% in the 4th quarter. SG Americas Securities LLC now owns 346,632 shares of the company's stock worth $3,272,000 after purchasing an additional 125,275 shares in the last quarter. Zacks Investment Management bought a new position in Fastly in the 3rd quarter worth approximately $914,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Fastly during the 3rd quarter valued at approximately $679,000. Hedge funds and other institutional investors own 79.71% of the company's stock.
Fastly Trading Down 2.4 %
Shares of FSLY stock traded down $0.16 during trading hours on Monday, reaching $6.36. 2,494,789 shares of the stock were exchanged, compared to its average volume of 3,341,255. 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, Inc. has a 12-month low of $5.52 and a 12-month high of $14.12. The firm has a market capitalization of $904.32 million, a price-to-earnings ratio of -5.57 and a beta of 1.31. The company's 50-day moving average price is $8.14 and its 200-day moving average price is $8.27.
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 analysts' consensus estimates 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 anticipate that Fastly, Inc. will post -0.78 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Piper Sandler reissued a "neutral" rating and issued a $9.00 target price (down previously from $10.00) on shares of Fastly in a report on Thursday, February 13th. Oppenheimer started coverage on shares of Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating on the stock. Citigroup raised their price objective on Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada reduced their price objective on Fastly from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.55.
Check Out Our Latest Analysis on FSLY
Insider Transactions at Fastly
In other Fastly news, CTO Artur Bergman sold 5,304 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total transaction of $36,491.52. Following the transaction, the chief technology officer now directly owns 3,669,058 shares in the company, valued at $25,243,119.04. This represents a 0.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Nightingale sold 35,509 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,699 shares of company stock valued at $1,486,150. 6.70% of the stock is currently owned by corporate insiders.
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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