Rafferty Asset Management LLC Boosts Stock Position in Fastly, Inc. (NYSE:FSLY)

Rafferty Asset Management LLC raised its holdings in shares of Fastly, Inc. (NYSE:FSLYFree Report) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,084 shares of the company’s stock after acquiring an additional 3,641 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.06% of Fastly worth $1,479,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in FSLY. Legal & General Group Plc boosted its holdings in Fastly by 13.3% in the third quarter. Legal & General Group Plc now owns 6,627,895 shares of the company’s stock valued at $127,057,000 after purchasing an additional 778,677 shares in the last quarter. Norges Bank purchased a new position in shares of Fastly in the 4th quarter valued at $8,014,000. Lord Abbett & CO. LLC acquired a new stake in Fastly during the 3rd quarter worth $7,577,000. Vanguard Group Inc. lifted its position in Fastly by 3.1% in the third quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock valued at $244,075,000 after acquiring an additional 381,845 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Fastly by 77.7% in the third quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock valued at $14,902,000 after acquiring an additional 339,820 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Insider Activity

In related news, Director Richard Devon Daniels sold 7,766 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $12.66, for a total transaction of $98,317.56. Following the sale, the director now owns 34,328 shares of the company’s stock, valued at $434,592.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Todd Nightingale sold 65,447 shares of Fastly stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $8.84, for a total transaction of $578,551.48. Following the completion of the transaction, the chief executive officer now owns 1,741,181 shares of the company’s stock, valued at approximately $15,392,040.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Devon Daniels sold 7,766 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $12.66, for a total transaction of $98,317.56. Following the completion of the sale, the director now directly owns 34,328 shares in the company, valued at $434,592.48. The disclosure for this sale can be found here. Insiders sold 143,020 shares of company stock worth $1,374,439 in the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FSLY has been the subject of several research reports. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a report on Thursday, February 15th. Royal Bank of Canada decreased their price objective on Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and cut their target price for the company from $19.00 to $16.00 in a report on Monday, April 8th. Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $18.00 to $8.00 in a research report on Thursday, May 2nd. Finally, DA Davidson cut shares of Fastly from a “buy” rating to a “neutral” rating and reduced their target price for the company from $24.00 to $8.50 in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fastly currently has an average rating of “Hold” and an average price target of $14.61.

View Our Latest Stock Analysis on Fastly

Fastly Price Performance

Shares of NYSE:FSLY opened at $7.48 on Tuesday. Fastly, Inc. has a 52 week low of $7.30 and a 52 week high of $25.87. The company has a 50-day moving average price of $10.36 and a 200 day moving average price of $14.75. The company has a market cap of $1.02 billion, a P/E ratio of -7.48 and a beta of 1.12. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLYGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The firm had revenue of $133.52 million for the quarter, compared to the consensus estimate of $133.01 million. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. Research analysts predict that Fastly, Inc. will post -1.08 earnings per share for the current year.

Fastly Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fastly (NYSE:FSLY)

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