Vontobel Holding Ltd. Reduces Stake in Fastly, Inc. (NYSE:FSLY)

Vontobel Holding Ltd. lessened its position in shares of Fastly, Inc. (NYSE:FSLY) by 32.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,340 shares of the company’s stock after selling 17,622 shares during the quarter. Vontobel Holding Ltd.’s holdings in Fastly were worth $665,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc lifted its position in Fastly by 13.3% during the third quarter. Legal & General Group Plc now owns 6,627,895 shares of the company’s stock valued at $127,057,000 after purchasing an additional 778,677 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in Fastly in the 3rd quarter worth approximately $8,327,000. Lord Abbett & CO. LLC bought a new stake in Fastly during the 3rd quarter worth approximately $7,577,000. Vanguard Group Inc. lifted its holdings in Fastly by 3.1% during the third quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock valued at $244,075,000 after purchasing an additional 381,845 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Fastly by 77.7% in the third quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock worth $14,902,000 after purchasing an additional 339,820 shares during the period. Institutional investors own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of analyst reports. Citigroup upgraded shares of 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 note on Monday, January 22nd. Royal Bank of Canada raised Fastly from an “underperform” rating to a “sector perform” rating and boosted their price target for the stock from $12.00 to $18.00 in a report on Monday, January 8th. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $19.00 to $16.00 in a research report on Monday, April 8th. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research note on Thursday, February 15th. Finally, Bank of America decreased their price target on shares of Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.11.

Fastly Stock Performance

Shares of NYSE:FSLY opened at $12.53 on Tuesday. The firm has a fifty day simple moving average of $13.89 and a two-hundred day simple moving average of $16.42. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.68 billion, a P/E ratio of -12.05 and a beta of 1.22. Fastly, Inc. has a 52 week low of $11.61 and a 52 week high of $25.87.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05. The business had revenue of $137.78 million during the quarter, compared to analyst estimates of $139.25 million. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. On average, analysts expect that Fastly, Inc. will post -1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fastly news, CFO Ronald W. Kisling sold 7,486 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the sale, the chief financial officer now owns 632,736 shares of the company’s stock, valued at $8,225,568. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $12.92, for a total value of $155,040.00. Following the completion of the transaction, the chief financial officer now owns 640,222 shares of the company’s stock, valued at $8,271,668.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ronald W. Kisling sold 7,486 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the sale, the chief financial officer now directly owns 632,736 shares in the company, valued at approximately $8,225,568. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,076 shares of company stock valued at $3,620,434. Company insiders own 7.60% of the company’s stock.

About Fastly

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.