Rhumbline Advisers Sells 2,492 Shares of Fastly, Inc. (NYSE:FSLY)

Rhumbline Advisers decreased its position in Fastly, Inc. (NYSE:FSLY) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,639 shares of the company’s stock after selling 2,492 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Fastly worth $1,200,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FSLY. AlphaQuest LLC boosted its holdings in shares of Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after buying an additional 2,960 shares during the period. GAMMA Investing LLC lifted its position in Fastly by 451.7% during the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company’s stock worth $46,000 after acquiring an additional 5,945 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after purchasing an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in Fastly during the 4th quarter valued at approximately $72,000. Finally, Canada Pension Plan Investment Board acquired a new position in Fastly during the 4th quarter valued at $82,000. Institutional investors own 79.71% of the company’s stock.

Insider Buying and Selling at Fastly

In other news, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $6.32, for a total transaction of $75,840.00. Following the sale, the chief financial officer now directly owns 671,035 shares of the company’s stock, valued at $4,240,941.20. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Nightingale sold 12,547 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $7.19, for a total transaction of $90,212.93. Following the completion of the sale, the chief executive officer now directly owns 1,904,388 shares of the company’s stock, valued at approximately $13,692,549.72. This represents a 0.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,675 shares of company stock worth $340,781. 6.70% of the stock is currently owned by insiders.

Fastly Stock Up 2.1%

FSLY opened at $6.77 on Friday. The firm has a market cap of $979.70 million, a price-to-earnings ratio of -6.21 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.50 and a current ratio of 1.50. The firm’s 50-day simple moving average is $6.83 and its 200-day simple moving average is $7.94. Fastly, Inc. has a twelve month low of $4.65 and a twelve month high of $12.08.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $144.47 million for the quarter, compared to analyst estimates of $138.40 million. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) earnings per share. Equities research analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Fastly in a research note on Thursday, March 20th. They set a “market perform” rating on the stock. Royal Bank Of Canada raised their price objective on shares of Fastly from $5.00 to $6.00 and gave the stock a “sector perform” rating in a report on Thursday, May 8th. Morgan Stanley lifted their target price on shares of Fastly from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Piper Sandler upped their target price on shares of Fastly from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, KeyCorp upgraded shares of Fastly to a “sector weight” rating in a research note on Thursday, June 5th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.28.

Fastly Company 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.