Arizona State Retirement System Boosts Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Arizona State Retirement System lifted its stake in shares of Fastly, Inc. (NYSE:FSLY – Get Rating) by 4.8% during the fourth quarter, Holdings Channel reports. The fund owned 30,983 shares of the company’s stock after acquiring an additional 1,414 shares during the period. Arizona State Retirement System’s holdings in Fastly were worth $254,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. ProShare Advisors LLC increased its position in shares of Fastly by 7.5% during the fourth quarter. ProShare Advisors LLC now owns 16,066 shares of the company’s stock worth $132,000 after acquiring an additional 1,127 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Fastly by 1,066.7% during the third quarter. Vontobel Holding Ltd. now owns 143,314 shares of the company’s stock worth $1,313,000 after purchasing an additional 131,030 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Fastly during the third quarter worth $106,000. Profund Advisors LLC grew its stake in shares of Fastly by 19.0% during the third quarter. Profund Advisors LLC now owns 46,443 shares of the company’s stock worth $425,000 after purchasing an additional 7,405 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Fastly during the third quarter worth $590,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FSLY. 92 Resources reiterated a “maintains” rating on shares of Fastly in a research note on Thursday, May 4th. Morgan Stanley upgraded shares of Fastly from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $12.00 to $18.00 in a research note on Thursday, April 20th. Citigroup upped their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a “sell” rating in a research note on Tuesday, February 21st. Bank of America upped their price objective on shares of Fastly from $16.00 to $26.50 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Finally, Robert W. Baird upped their price objective on shares of Fastly from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.00.

Insider Transactions at Fastly

In other news, CFO Ronald W. Kisling sold 4,792 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $13.94, for a total transaction of $66,800.48. Following the completion of the sale, the chief financial officer now owns 392,388 shares in the company, valued at $5,469,888.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Artur Bergman sold 2,420 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $13.94, for a total transaction of $33,734.80. Following the completion of the transaction, the insider now directly owns 6,640,889 shares of the company’s stock, valued at $92,573,992.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ronald W. Kisling sold 4,792 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $13.94, for a total transaction of $66,800.48. Following the transaction, the chief financial officer now directly owns 392,388 shares of the company’s stock, valued at $5,469,888.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,172 shares of company stock worth $3,628,885. Company insiders own 8.90% of the company’s stock.

Fastly Price Performance

Shares of FSLY opened at $14.48 on Wednesday. Fastly, Inc. has a fifty-two week low of $7.15 and a fifty-two week high of $18.08. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -10.34 and a beta of 1.31. The firm has a 50-day simple moving average of $15.03 and a 200-day simple moving average of $12.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.28 and a current ratio of 5.28.

Fastly Company Profile

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Fastly, Inc provides real-time content delivery network services. It offers edge compute, edge delivery, edge security, edge applications like load balancing and image optimization, video on demand, and managed edge delivery. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.