30,438 Shares in Fastly, Inc. (NYSE:FSLY) Acquired by American Century Companies Inc.

American Century Companies Inc. acquired a new stake in Fastly, Inc. (NYSE:FSLY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 30,438 shares of the company’s stock, valued at approximately $287,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 180 Wealth Advisors LLC boosted its stake in shares of Fastly by 2.5% during the fourth quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after purchasing an additional 1,695 shares during the period. AlphaQuest LLC boosted its position in Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after buying an additional 2,960 shares during the period. Rhumbline Advisers boosted its position in Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock valued at $1,814,000 after buying an additional 3,081 shares during the period. Jones Financial Companies Lllp grew its stake in Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after acquiring an additional 3,221 shares in the last quarter. Finally, FMR LLC increased its position in shares of Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analysts Set New Price Targets

FSLY has been the topic of several research analyst reports. Citigroup increased their price objective on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Oppenheimer initiated coverage on Fastly in a research report on Thursday, March 20th. They set a “market perform” rating on the stock. Piper Sandler cut their price target on Fastly from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada lowered their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.25.

Fastly Price Performance

Shares of FSLY stock opened at $5.45 on Monday. The stock’s 50-day moving average is $7.10 and its 200 day moving average is $8.14. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $13.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The company has a market cap of $775.11 million, a P/E ratio of -4.78 and a beta of 1.43.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Research analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Artur Bergman sold 5,304 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total transaction of $36,491.52. Following the transaction, the chief technology officer now owns 3,669,058 shares in the company, valued at $25,243,119.04. This represents a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $9.45, for a total transaction of $57,059.10. Following the completion of the transaction, the chief financial officer now directly owns 519,812 shares of the company’s stock, valued at $4,912,223.40. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,150 shares of company stock worth $1,356,178. Insiders own 6.70% of the company’s stock.

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.