Duality Advisers LP Invests $798,000 in Fastly, Inc. (NYSE:FSLY)

Duality Advisers LP purchased a new stake in shares of Fastly, Inc. (NYSE:FSLY) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 44,923 shares of the company’s stock, valued at approximately $798,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alpine Global Management LLC purchased a new stake in shares of Fastly during the fourth quarter valued at $118,000. Arizona State Retirement System grew its stake in Fastly by 3.5% in the 1st quarter. Arizona State Retirement System now owns 32,075 shares of the company’s stock worth $570,000 after acquiring an additional 1,092 shares in the last quarter. Midwest Financial Group LLC purchased a new position in shares of Fastly during the first quarter worth approximately $290,000. Industry Ventures L.L.C. bought a new stake in shares of Fastly during the first quarter valued at approximately $126,000. Finally, Qsemble Capital Management LP purchased a new stake in shares of Fastly in the first quarter valued at approximately $382,000. 65.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. DA Davidson lifted their target price on Fastly from $17.00 to $20.00 in a research report on Friday, June 23rd. Credit Suisse Group raised their target price on shares of Fastly from $14.00 to $16.00 in a research report on Friday, June 23rd. Royal Bank of Canada upped their price target on shares of Fastly from $11.00 to $12.00 and gave the stock an “underperform” rating in a research report on Thursday, August 3rd. Citigroup lifted their price objective on shares of Fastly from $8.00 to $10.00 and gave the company a “sell” rating in a report on Tuesday, August 29th. Finally, Morgan Stanley increased their target price on Fastly from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.83.

Insider Activity

In related news, CFO Ronald W. Kisling sold 1,179 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $22.07, for a total value of $26,020.53. Following the completion of the transaction, the chief financial officer now owns 467,648 shares in the company, valued at approximately $10,320,991.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Artur Bergman sold 87,225 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $23.94, for a total value of $2,088,166.50. Following the transaction, the insider now owns 6,236,231 shares in the company, valued at approximately $149,295,370.14. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ronald W. Kisling sold 1,179 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $22.07, for a total transaction of $26,020.53. Following the transaction, the chief financial officer now directly owns 467,648 shares of the company’s stock, valued at $10,320,991.36. The disclosure for this sale can be found here. Insiders have sold 371,413 shares of company stock valued at $7,338,567 over the last ninety days. 7.60% of the stock is currently owned by insiders.

Fastly Price Performance

Shares of NYSE FSLY opened at $20.54 on Monday. Fastly, Inc. has a fifty-two week low of $7.15 and a fifty-two week high of $24.31. The company has a market cap of $2.65 billion, a PE ratio of -15.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.84 and a current ratio of 3.84. The business has a 50-day simple moving average of $20.05 and a two-hundred day simple moving average of $17.02.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, August 2nd. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.04. The company had revenue of $122.83 million during the quarter, compared to analysts’ expectations of $118.69 million. Fastly had a negative net margin of 35.34% and a negative return on equity of 18.05%. As a group, equities analysts expect that Fastly, Inc. will post -1.32 EPS for the current fiscal year.

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.