Fastly, Inc. (NYSE:FSLY) Shares Purchased by American International Group Inc.

American International Group Inc. boosted its holdings in Fastly, Inc. (NYSE:FSLY) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,102 shares of the company’s stock after purchasing an additional 2,310 shares during the quarter. American International Group Inc.’s holdings in Fastly were worth $900,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FSLY. Point72 Asset Management L.P. acquired a new position in Fastly in the fourth quarter worth $42,697,000. First Trust Advisors LP boosted its holdings in shares of Fastly by 65.3% during the first quarter. First Trust Advisors LP now owns 7,846,587 shares of the company’s stock valued at $136,374,000 after acquiring an additional 3,099,852 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Fastly by 207.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,938,875 shares of the company’s stock valued at $52,191,000 after acquiring an additional 1,983,946 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Fastly by 330.3% during the first quarter. Two Sigma Investments LP now owns 1,774,937 shares of the company’s stock valued at $31,523,000 after acquiring an additional 1,362,406 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Fastly during the first quarter valued at $21,322,000. Institutional investors and hedge funds own 65.65% of the company’s stock.

Fastly Price Performance

Shares of Fastly stock opened at $17.29 on Thursday. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $17.41 and its two-hundred day moving average price is $17.30. Fastly, Inc. has a 52 week low of $7.15 and a 52 week high of $24.31. The stock has a market cap of $2.26 billion, a PE ratio of -13.94 and a beta of 1.32.

Insiders Place Their Bets

In related news, insider Artur Bergman sold 87,225 shares of Fastly stock in a transaction dated Tuesday, September 5th. The stock was 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 of the company’s stock, valued at approximately $149,295,370.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Brett Shirk sold 7,000 shares of Fastly stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $14.60, for a total value of $102,200.00. Following the transaction, the executive vice president now owns 253,261 shares of the company’s stock, valued at approximately $3,697,610.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Artur Bergman sold 87,225 shares of Fastly stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $23.94, for a total value of $2,088,166.50. Following the completion of the transaction, the insider now directly owns 6,236,231 shares in the company, valued at approximately $149,295,370.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,619 shares of company stock worth $5,967,579. 7.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FSLY shares. Morgan Stanley boosted their price target on shares of Fastly from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. Royal Bank of Canada lifted their price objective on shares of Fastly from $11.00 to $12.00 and gave the company an “underperform” rating in a research note on Thursday, August 3rd. Raymond James restated a “strong-buy” rating and set a $25.00 price objective on shares of Fastly in a research note on Thursday, October 5th. Finally, Citigroup lifted their price objective on shares of Fastly from $8.00 to $10.00 and gave the company a “sell” rating in a research note on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Fastly presently has a consensus rating of “Hold” and a consensus target price of $17.65.

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.