28,500 Shares in Fastly, Inc. (NYSE:FSLY) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Fastly, Inc. (NYSE:FSLY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 28,500 shares of the company’s stock, valued at approximately $269,000.

Several other large investors have also bought and sold shares of FSLY. AlphaQuest LLC grew its holdings in shares of Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after buying an additional 2,960 shares during the last quarter. FMR LLC lifted its position in Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after purchasing an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Fastly during the 4th quarter valued at $72,000. Finally, Cibc World Markets Corp bought a new stake in shares of Fastly in the 4th quarter worth $115,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Stock Performance

FSLY opened at $5.16 on Monday. The company’s 50 day moving average is $7.82 and its 200 day moving average is $8.24. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a market cap of $733.56 million, a price-to-earnings ratio of -4.52 and a beta of 1.43. Fastly, Inc. has a 12-month low of $5.01 and a 12-month high of $14.12.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. On average, equities research analysts predict that Fastly, Inc. will post -0.78 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Artur Bergman sold 31,551 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $10.31, for a total transaction of $325,290.81. Following the completion of the transaction, the chief technology officer now directly owns 3,394,136 shares in the company, valued at approximately $34,993,542.16. The trade was a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total transaction of $57,059.10. Following the completion of the sale, the chief financial officer now directly owns 519,812 shares of the company’s stock, valued at $4,912,223.40. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 155,150 shares of company stock worth $1,356,178 over the last quarter. 6.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FSLY. Oppenheimer started coverage on Fastly in a report on Thursday, March 20th. They set a “market perform” rating on the stock. Royal Bank of Canada lowered their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Citigroup lifted their price target on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Piper Sandler reissued a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, Fastly currently has a consensus rating of “Hold” and a consensus price target of $8.55.

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.