17,500 Shares in Fastly, Inc. (NYSE:FSLY) Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH bought a new stake in Fastly, Inc. (NYSE:FSLY) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,500 shares of the company’s stock, valued at approximately $111,000.

Other hedge funds also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new stake in shares of Fastly in the 4th quarter worth about $35,334,000. Penserra Capital Management LLC grew its position in Fastly by 83.1% in the 1st quarter. Penserra Capital Management LLC now owns 7,177,688 shares of the company’s stock worth $45,434,000 after purchasing an additional 3,256,629 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Fastly in the fourth quarter valued at approximately $7,618,000. Point72 Asset Management L.P. bought a new stake in shares of Fastly during the fourth quarter valued at approximately $7,088,000. Finally, Two Sigma Investments LP raised its holdings in shares of Fastly by 179.3% during the fourth quarter. Two Sigma Investments LP now owns 1,101,329 shares of the company’s stock valued at $10,397,000 after buying an additional 707,053 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

Fastly Trading Up 2.0%

Shares of Fastly stock opened at $6.49 on Tuesday. The business has a fifty day simple moving average of $7.13 and a 200-day simple moving average of $7.25. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08. The firm has a market cap of $938.31 million, a price-to-earnings ratio of -5.95 and a beta of 1.19. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.16.

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

Wall Street Analysts Forecast Growth

FSLY has been the subject of a number of recent analyst reports. Piper Sandler raised their target price on Fastly from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. KeyCorp raised Fastly to a “sector weight” rating in a research note on Thursday, June 5th. Royal Bank Of Canada lifted their price objective on shares of Fastly from $5.00 to $6.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. Finally, Morgan Stanley upped their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.28.

Insider Activity at Fastly

In other Fastly news, CRO Scott R. Lovett sold 127,608 shares of Fastly stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $6.95, for a total value of $886,875.60. Following the transaction, the executive owned 1,287,145 shares in the company, valued at approximately $8,945,657.75. The trade was a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 12,547 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $7.19, for a total value of $90,212.93. Following the sale, the chief executive officer owned 1,904,388 shares of the company’s stock, valued at $13,692,549.72. This trade represents a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,124 shares of company stock valued at $1,138,628 over the last ninety days. Insiders own 6.70% of the company’s stock.

About Fastly

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.