Ensign Peak Advisors Inc Buys 5,900 Shares of Fastly, Inc. (NYSE:FSLY)

Ensign Peak Advisors Inc boosted its stake in shares of Fastly, Inc. (NYSE:FSLY) by 11.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,258 shares of the company’s stock after purchasing an additional 5,900 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Fastly were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cambridge Trust Co. purchased a new position in shares of Fastly in the 1st quarter worth approximately $39,000. Cape Investment Advisory Inc. boosted its stake in Fastly by 27,666.7% in the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after acquiring an additional 4,150 shares in the last quarter. EMC Capital Management grew its holdings in Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after purchasing an additional 6,000 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Fastly by 95.3% during the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after purchasing an additional 4,318 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Fastly by 41.1% in the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after purchasing an additional 1,643 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Price Performance

NYSE:FSLY opened at $7.56 on Monday. The firm’s fifty day moving average is $6.75 and its two-hundred day moving average is $8.70. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -7.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13. Fastly, Inc. has a one year low of $5.52 and a one year high of $25.87.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The firm had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. During the same period last year, the company earned ($0.32) earnings per share. Fastly’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Fastly, Inc. will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

FSLY has been the topic of several recent analyst reports. Piper Sandler lowered Fastly from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $6.00 in a research report on Thursday, August 8th. Craig Hallum lowered their target price on shares of Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Raymond James lowered their price objective on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley cut their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.81.

Insider Activity at Fastly

In related news, CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.84, for a total transaction of $65,849.16. Following the sale, the chief financial officer now owns 586,057 shares in the company, valued at $5,180,743.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO Artur Bergman sold 16,748 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64. Following the completion of the transaction, the chief technology officer now directly owns 6,225,980 shares of the company’s stock, valued at approximately $38,476,556.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ronald W. Kisling sold 7,449 shares of Fastly stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.84, for a total transaction of $65,849.16. Following the completion of the sale, the chief financial officer now directly owns 586,057 shares in the company, valued at approximately $5,180,743.88. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock worth $903,011 in the last three months. Company insiders own 6.70% of the company’s stock.

Fastly 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.