Vanguard Group Inc. Purchases 381,845 Shares of Fastly, Inc. (NYSE:FSLY)

Vanguard Group Inc. boosted its holdings in shares of Fastly, Inc. (NYSE:FSLYFree Report) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,732,114 shares of the company’s stock after acquiring an additional 381,845 shares during the period. Vanguard Group Inc. owned approximately 9.73% of Fastly worth $244,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in shares of Fastly by 152.9% in the first quarter. Raymond James & Associates now owns 32,370 shares of the company’s stock valued at $563,000 after buying an additional 19,572 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Fastly by 63.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 53,214 shares of the company’s stock worth $925,000 after purchasing an additional 20,738 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Fastly by 11.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,021,017 shares of the company’s stock worth $17,745,000 after purchasing an additional 108,737 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Fastly by 18.8% in the 1st quarter. HighTower Advisors LLC now owns 73,283 shares of the company’s stock valued at $1,273,000 after purchasing an additional 11,595 shares during the period. Finally, Cetera Advisor Networks LLC bought a new stake in shares of Fastly in the first quarter valued at about $250,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fastly

In other news, insider Artur Bergman sold 17,500 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $17.82, for a total value of $311,850.00. Following the transaction, the insider now directly owns 6,193,744 shares of the company’s stock, valued at $110,372,518.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Artur Bergman sold 17,500 shares of Fastly stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $17.82, for a total transaction of $311,850.00. Following the completion of the sale, the insider now directly owns 6,193,744 shares of the company’s stock, valued at approximately $110,372,518.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ronald W. Kisling sold 5,730 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $17.24, for a total value of $98,785.20. Following the completion of the transaction, the chief financial officer now directly owns 462,684 shares in the company, valued at $7,976,672.16. The disclosure for this sale can be found here. Insiders sold 334,195 shares of company stock valued at $5,898,005 in the last quarter. 7.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several research reports. Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from $12.00 to $18.00 in a research note on Monday, January 8th. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research note on Thursday, February 15th. Bank of America reduced their price objective on shares of Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Citigroup raised Fastly from a “sell” rating to a “neutral” rating and lifted their target price for the company from $11.00 to $20.00 in a research report on Monday, January 22nd. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.50.

Get Our Latest Stock Report on FSLY

Fastly Stock Up 2.7 %

Shares of FSLY stock opened at $12.97 on Friday. Fastly, Inc. has a 52-week low of $11.61 and a 52-week high of $25.87. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -12.47 and a beta of 1.23. The firm’s 50-day moving average is $16.77 and its 200-day moving average is $17.23. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14.

Fastly (NYSE:FSLYGet Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. The firm had revenue of $137.78 million for the quarter, compared to the consensus estimate of $139.25 million. Sell-side analysts predict that Fastly, Inc. will post -1.07 EPS for the current year.

Fastly Company 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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Institutional Ownership by Quarter for Fastly (NYSE:FSLY)

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