Allspring Global Investments Holdings LLC Sells 6,079 Shares of Fastly, Inc. (NYSE:FSLY)

Allspring Global Investments Holdings LLC trimmed its position in shares of Fastly, Inc. (NYSE:FSLY) by 39.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,379 shares of the company’s stock after selling 6,079 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Fastly were worth $167,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Fastly by 14.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,325,751 shares of the company’s stock worth $23,598,000 after buying an additional 166,184 shares during the last quarter. Allworth Financial LP increased its position in shares of Fastly by 1,420.9% during the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after acquiring an additional 1,975 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Fastly in the 4th quarter worth about $61,000. Raymond James Financial Services Advisors Inc. boosted its stake in Fastly by 14.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 136,033 shares of the company’s stock valued at $2,421,000 after purchasing an additional 16,694 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in Fastly by 168.0% during the 4th quarter. Raymond James & Associates now owns 166,042 shares of the company’s stock worth $2,956,000 after purchasing an additional 104,096 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Fastly Stock Up 4.4 %

FSLY stock opened at $12.95 on Monday. The stock has a fifty day moving average of $13.34 and a 200-day moving average of $16.32. Fastly, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $25.87. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -12.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. The firm had revenue of $137.78 million during the quarter, compared to analyst estimates of $139.25 million. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. As a group, equities research analysts predict that Fastly, Inc. will post -1.07 earnings per share for the current year.

Insider Activity at Fastly

In other Fastly news, CEO Todd Nightingale sold 50,708 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.09, for a total value of $815,891.72. Following the sale, the chief executive officer now owns 1,371,348 shares of the company’s stock, valued at approximately $22,064,989.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Todd Nightingale sold 50,708 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.09, for a total value of $815,891.72. Following the completion of the transaction, the chief executive officer now directly owns 1,371,348 shares in the company, valued at $22,064,989.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Artur Bergman sold 21,875 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.19, for a total value of $551,031.25. Following the transaction, the insider now directly owns 6,050,259 shares in the company, valued at $152,406,024.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,201 shares of company stock valued at $3,160,402. Company insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FSLY shares. Citigroup dropped their target price on Fastly from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research note on Thursday, February 15th. Bank of America cut their price target on shares of Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $19.00 to $16.00 in a research note on Monday, April 8th. Finally, Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $12.00 to $18.00 in a research note on Monday, January 8th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Fastly has a consensus rating of “Moderate Buy” and a consensus price target of $18.56.

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.