Mirae Asset Global Investments Co. Ltd. Sells 95,488 Shares of Fastly, Inc. (NYSE:FSLY)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Fastly, Inc. (NYSE:FSLY – Get Rating) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,132,171 shares of the company’s stock after selling 95,488 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.92% of Fastly worth $9,272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC grew its holdings in Fastly by 7.5% in the fourth quarter. ProShare Advisors LLC now owns 16,066 shares of the company’s stock worth $132,000 after purchasing an additional 1,127 shares during the period. Vontobel Holding Ltd. grew its holdings in Fastly by 1,066.7% in the third quarter. Vontobel Holding Ltd. now owns 143,314 shares of the company’s stock worth $1,313,000 after purchasing an additional 131,030 shares during the period. Verition Fund Management LLC purchased a new stake in Fastly in the third quarter worth about $106,000. Profund Advisors LLC grew its holdings in Fastly by 19.0% in the third quarter. Profund Advisors LLC now owns 46,443 shares of the company’s stock worth $425,000 after purchasing an additional 7,405 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Fastly in the third quarter worth about $590,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Fastly Trading Down 2.6 %

Shares of Fastly stock opened at $12.89 on Monday. The company’s 50 day moving average is $15.02 and its 200 day moving average is $12.05. Fastly, Inc. has a twelve month low of $7.15 and a twelve month high of $18.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.28 and a current ratio of 5.28.

Insider Activity at Fastly

In related news, CEO Todd Nightingale sold 74,084 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $13.17, for a total transaction of $975,686.28. Following the transaction, the chief executive officer now owns 1,328,336 shares in the company, valued at $17,494,185.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Fastly news, CEO Todd Nightingale sold 74,084 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $13.17, for a total value of $975,686.28. Following the transaction, the chief executive officer now directly owns 1,328,336 shares in the company, valued at $17,494,185.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Artur Bergman sold 2,420 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $13.94, for a total transaction of $33,734.80. Following the completion of the transaction, the insider now owns 6,640,889 shares in the company, valued at $92,573,992.66. The disclosure for this sale can be found here. Insiders have sold a total of 258,273 shares of company stock worth $3,746,961 over the last quarter. Company insiders own 8.90% of the company’s stock.

Analyst Upgrades and Downgrades

FSLY has been the topic of a number of recent research reports. Craig Hallum upgraded shares of Fastly from a “hold” rating to a “buy” rating and upped their price objective for the stock from $9.00 to $17.00 in a report on Thursday, February 16th. William Blair reiterated a “market perform” rating on shares of Fastly in a report on Wednesday, April 19th. Bank of America increased their price target on shares of Fastly from $16.00 to $26.50 and gave the company a “buy” rating in a report on Tuesday, April 11th. Credit Suisse Group increased their price target on shares of Fastly from $9.50 to $11.50 and gave the company a “neutral” rating in a report on Thursday, February 16th. Finally, Robert W. Baird increased their price target on shares of Fastly from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.00.

Fastly Profile

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Fastly, Inc provides real-time content delivery network services. It offers edge compute, edge delivery, edge security, edge applications like load balancing and image optimization, video on demand, and managed edge delivery. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.