Geode Capital Management LLC Grows Position in Fastly, Inc. (NYSE:FSLY)

Geode Capital Management LLC increased its position in Fastly, Inc. (NYSE:FSLY) by 0.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,019,683 shares of the company’s stock after buying an additional 4,228 shares during the period. Geode Capital Management LLC owned about 2.15% of Fastly worth $28,512,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC increased its holdings in shares of Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares during the last quarter. FMR LLC lifted its stake in shares of Fastly by 124.2% during the 3rd 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 last quarter. Jones Financial Companies Lllp lifted its position in shares of Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after purchasing an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Fastly in the 4th quarter valued at about $72,000. Finally, Cibc World Markets Corp bought a new position in Fastly in the fourth quarter worth approximately $115,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Trading Up 1.0 %

Shares of FSLY stock opened at $5.38 on Friday. The company has a market cap of $764.86 million, a price-to-earnings ratio of -4.71 and a beta of 1.43. The stock has a 50 day simple moving average of $6.71 and a 200-day simple moving average of $8.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $13.36.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. On average, equities research analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Fastly news, CFO Ronald W. Kisling sold 5,342 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $5.26, for a total value of $28,098.92. Following the transaction, the chief financial officer now directly owns 665,693 shares in the company, valued at $3,501,545.18. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Artur Bergman sold 10,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $10.12, for a total value of $101,200.00. Following the completion of the transaction, the chief technology officer now owns 3,384,136 shares of the company’s stock, valued at $34,247,456.32. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,454 shares of company stock worth $1,327,218. 6.70% of the stock is owned by insiders.

Analysts Set New Price Targets

FSLY has been the topic of a number of research reports. Oppenheimer assumed coverage on shares of Fastly in a research report on Thursday, March 20th. They set a “market perform” rating on the stock. Royal Bank of Canada decreased their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Piper Sandler lowered their price objective on shares of Fastly from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Citigroup lifted their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Morgan Stanley lowered their price target on shares of Fastly from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.25.

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.