Swiss National Bank Raises Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Swiss National Bank grew its stake in Fastly, Inc. (NYSE:FSLY – Get Rating) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,100 shares of the company’s stock after buying an additional 7,100 shares during the quarter. Swiss National Bank owned approximately 0.22% of Fastly worth $2,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Arizona State Retirement System increased its position in Fastly by 4.8% in the fourth quarter. Arizona State Retirement System now owns 30,983 shares of the company’s stock worth $254,000 after buying an additional 1,414 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Fastly during the fourth quarter worth about $217,000. Commonwealth Equity Services LLC grew its position in shares of Fastly by 10.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 70,267 shares of the company’s stock worth $575,000 after purchasing an additional 6,525 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Fastly by 54.3% during the fourth quarter. SG Americas Securities LLC now owns 24,132 shares of the company’s stock worth $198,000 after purchasing an additional 8,491 shares in the last quarter. Finally, ProShare Advisors LLC grew 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 purchasing an additional 1,127 shares in the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Insider Activity

In other news, CEO Todd Nightingale sold 74,084 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $13.17, for a total value of $975,686.28. Following the completion of the sale, the chief executive officer now directly owns 1,328,336 shares of the company’s stock, valued at approximately $17,494,185.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Artur Bergman sold 2,420 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $13.94, for a total transaction of $33,734.80. Following the completion of the sale, the insider now directly owns 6,640,889 shares of the company’s stock, valued at approximately $92,573,992.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Nightingale sold 74,084 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $13.17, for a total value of $975,686.28. Following the sale, the chief executive officer now directly owns 1,328,336 shares of the company’s stock, valued at $17,494,185.12. The disclosure for this sale can be found here. Insiders sold 259,872 shares of company stock valued at $3,763,379 in the last ninety days. Insiders own 8.90% of the company’s stock.

Fastly Price Performance

NYSE:FSLY opened at $14.78 on Friday. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -10.56 and a beta of 1.31. Fastly, Inc. has a 1 year low of $7.15 and a 1 year high of $18.08. The business has a 50 day simple moving average of $15.01 and a 200-day simple moving average of $12.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.28 and a quick ratio of 5.28.

Analyst Ratings Changes

Several analysts recently issued reports on the company. DA Davidson upgraded Fastly from a “neutral” rating to a “buy” rating and increased their target price for the stock from $8.50 to $17.00 in a research report on Thursday, February 16th. William Blair reiterated a “market perform” rating on shares of Fastly in a research report on Wednesday, April 19th. Robert W. Baird increased their price target on Fastly from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Morgan Stanley raised Fastly from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $12.00 to $18.00 in a research note on Thursday, April 20th. Finally, Citigroup increased their price target on Fastly from $7.00 to $8.00 and gave the company a “sell” rating in a research note on Tuesday, February 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Fastly has an average rating of “Hold” and a consensus price target of $16.00.

About Fastly

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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.