180 Wealth Advisors LLC Takes Position in Fastly, Inc. (NYSE:FSLY)

180 Wealth Advisors LLC acquired a new position in shares of Fastly, Inc. (NYSE:FSLYFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,893 shares of the company’s stock, valued at approximately $141,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Fastly by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,924,190 shares of the company’s stock worth $230,051,000 after acquiring an additional 192,076 shares in the last quarter. Legal & General Group Plc grew 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 during the last quarter. First Trust Advisors LP increased its position in shares of Fastly by 21.8% in the fourth quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock valued at $99,443,000 after buying an additional 998,749 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Fastly by 9.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after buying an additional 162,659 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Fastly by 14.3% in the 4th 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 in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on FSLY. Royal Bank of Canada cut their target price on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, May 2nd. Bank of America cut Fastly from a “buy” rating to an “underperform” rating and lowered their target price for the company from $18.00 to $8.00 in a report on Thursday, May 2nd. DA Davidson cut Fastly from a “buy” rating to a “neutral” rating and cut their price target for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd. Citigroup decreased their price objective on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Finally, 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 research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.44.

Read Our Latest Research Report on Fastly

Insider Buying and Selling

In other Fastly news, CFO Ronald W. Kisling sold 23,105 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $8.84, for a total transaction of $204,248.20. Following the completion of the sale, the chief financial officer now directly owns 609,631 shares in the company, valued at $5,389,138.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fastly news, CFO Ronald W. Kisling sold 23,105 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $204,248.20. Following the completion of the sale, the chief financial officer now directly owns 609,631 shares in the company, valued at $5,389,138.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ronald W. Kisling sold 2,919 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $8.92, for a total transaction of $26,037.48. Following the completion of the transaction, the chief financial officer now directly owns 606,712 shares in the company, valued at approximately $5,411,871.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,254 shares of company stock valued at $1,276,122. 6.70% of the stock is currently owned by company insiders.

Fastly Stock Down 1.3 %

FSLY opened at $7.35 on Friday. Fastly, Inc. has a 12 month low of $6.77 and a 12 month high of $25.87. The business has a 50-day moving average of $8.73 and a two-hundred day moving average of $13.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -7.35 and a beta of 1.11.

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

Fastly Company 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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