State of New Jersey Common Pension Fund D Acquires 31,140 Shares of Fastly, Inc. (NYSE:FSLY)

State of New Jersey Common Pension Fund D raised its holdings in shares of Fastly, Inc. (NYSE:FSLY) by 29.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 137,727 shares of the company’s stock after acquiring an additional 31,140 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Fastly were worth $2,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its holdings in Fastly by 18.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,239 shares of the company’s stock valued at $369,000 after purchasing an additional 2,975 shares during the last quarter. Trellus Management Company LLC acquired a new position in shares of Fastly during the 3rd quarter worth about $280,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Fastly by 42.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,011 shares of the company’s stock worth $364,000 after buying an additional 5,633 shares during the period. Strs Ohio bought a new stake in shares of Fastly in the 3rd quarter valued at about $65,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fastly in the 3rd quarter valued at approximately $36,000. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Performance

FSLY opened at $12.94 on Thursday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -12.44 and a beta of 1.22. The business’s 50-day moving average price is $13.21 and its two-hundred day moving average price is $16.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. Fastly, Inc. has a 1 year low of $11.61 and a 1 year high of $25.87.

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

Insider Buying and Selling

In related news, Director Richard Devon Daniels sold 7,766 shares of Fastly stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $12.66, for a total transaction of $98,317.56. Following the completion of the transaction, the director now owns 34,328 shares in the company, valued at $434,592.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Richard Devon Daniels sold 7,766 shares of Fastly stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $12.66, for a total transaction of $98,317.56. Following the completion of the sale, the director now owns 34,328 shares of the company’s stock, valued at approximately $434,592.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Artur Bergman sold 21,875 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.19, for a total value of $551,031.25. Following the completion of the transaction, the insider now directly owns 6,050,259 shares in the company, valued at approximately $152,406,024.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,201 shares of company stock worth $3,160,402. Insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Fastly from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research report on Thursday, February 15th. Royal Bank of Canada upgraded shares of Fastly from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $12.00 to $18.00 in a research report on Monday, January 8th. Bank of America dropped their price objective on Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Finally, Piper Sandler raised Fastly from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $19.00 to $16.00 in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.56.

Fastly Company Profile

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.