Walleye Capital LLC Buys 56,690 Shares of Fastly, Inc. (NYSE:FSLY)

Walleye Capital LLC raised its stake in Fastly, Inc. (NYSE:FSLYGet Rating) by 413.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 70,411 shares of the company’s stock after acquiring an additional 56,690 shares during the period. Walleye Capital LLC’s holdings in Fastly were worth $1,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FSLY. MetLife Investment Management LLC purchased a new position in shares of Fastly during the first quarter valued at approximately $37,000. Penserra Capital Management LLC increased its stake in shares of Fastly by 50.0% during the first quarter. Penserra Capital Management LLC now owns 3,072 shares of the company’s stock valued at $53,000 after buying an additional 1,024 shares during the period. Captrust Financial Advisors increased its stake in shares of Fastly by 32.2% during the first quarter. Captrust Financial Advisors now owns 3,859 shares of the company’s stock valued at $67,000 after buying an additional 941 shares during the period. Calixto Global Investors LP purchased a new stake in Fastly in the fourth quarter worth $86,000. Finally, Geneos Wealth Management Inc. grew its stake in Fastly by 122.3% in the first quarter. Geneos Wealth Management Inc. now owns 5,835 shares of the company’s stock worth $101,000 after purchasing an additional 3,210 shares during the period. Institutional investors own 65.42% of the company’s stock.

Insider Activity

In other news, CFO Ronald W. Kisling sold 5,083 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $12.02, for a total transaction of $61,097.66. Following the transaction, the chief financial officer now directly owns 409,054 shares of the company’s stock, valued at $4,916,829.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Fastly news, CFO Ronald W. Kisling sold 9,553 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $11.97, for a total value of $114,349.41. Following the transaction, the chief financial officer now owns 397,307 shares of the company’s stock, valued at $4,755,764.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 5,083 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $12.02, for a total value of $61,097.66. Following the completion of the transaction, the chief financial officer now directly owns 409,054 shares in the company, valued at approximately $4,916,829.08. The disclosure for this sale can be found here. Insiders have sold a total of 65,622 shares of company stock valued at $788,756 over the last ninety days. 8.90% of the stock is currently owned by corporate insiders.

Fastly Trading Down 5.9 %

Shares of NYSE:FSLY opened at $9.28 on Monday. The company has a market cap of $1.13 billion, a P/E ratio of -5.62 and a beta of 1.43. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.11 and a quick ratio of 4.11. Fastly, Inc. has a 1 year low of $8.27 and a 1 year high of $58.62. The stock’s fifty day moving average price is $10.74 and its 200-day moving average price is $13.20.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FSLY. Raymond James reduced their price target on Fastly from $35.00 to $25.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 12th. Royal Bank of Canada cut Fastly from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from $17.50 to $9.00 in a research note on Tuesday, July 19th. DA Davidson reduced their price target on Fastly to $12.00 in a research note on Tuesday, August 9th. Piper Sandler cut their target price on Fastly from $19.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 6th. Finally, Morgan Stanley cut Fastly from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $18.00 to $12.00 in a research note on Monday, July 11th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.25.

About Fastly

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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.

See Also

Want to see what other hedge funds are holding FSLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastly, Inc. (NYSE:FSLYGet Rating).

Institutional Ownership by Quarter for Fastly (NYSE:FSLY)

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