Deutsche Bank AG Sells 6,963 Shares of Fastly, Inc. $FSLY

Deutsche Bank AG reduced its stake in Fastly, Inc. (NYSE:FSLY) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,446 shares of the company’s stock after selling 6,963 shares during the period. Deutsche Bank AG owned 0.17% of Fastly worth $1,573,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Fastly by 12.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,852 shares of the company’s stock worth $113,000 after acquiring an additional 1,975 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Fastly by 0.9% during the first quarter. Federated Hermes Inc. now owns 211,638 shares of the company’s stock valued at $1,340,000 after purchasing an additional 1,988 shares in the last quarter. Mariner LLC boosted its stake in shares of Fastly by 18.0% during the fourth quarter. Mariner LLC now owns 22,868 shares of the company’s stock valued at $216,000 after purchasing an additional 3,487 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Fastly by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 78,889 shares of the company’s stock valued at $745,000 after purchasing an additional 4,360 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Fastly by 37.9% during the first quarter. CWM LLC now owns 17,371 shares of the company’s stock valued at $110,000 after purchasing an additional 4,777 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FSLY. Royal Bank Of Canada increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Craig Hallum upgraded shares of Fastly from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, August 7th. Morgan Stanley increased their price objective on shares of Fastly from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. KeyCorp upgraded shares of Fastly to a “sector weight” rating in a research note on Thursday, June 5th. Finally, Piper Sandler increased their price objective 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. One investment analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Fastly currently has an average rating of “Hold” and an average price target of $8.69.

Insider Activity at Fastly

In other Fastly news, CEO Charles Lacey Compton III sold 15,335 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $6.88, for a total value of $105,504.80. Following the completion of the transaction, the chief executive officer owned 673,645 shares of the company’s stock, valued at approximately $4,634,677.60. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Scott R. Lovett sold 127,608 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $6.95, for a total transaction of $886,875.60. Following the completion of the transaction, the executive directly owned 1,287,145 shares of the company’s stock, valued at approximately $8,945,657.75. This represents a 9.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 217,637 shares of company stock worth $1,524,719. Corporate insiders own 6.70% of the company’s stock.

Fastly Trading Up 3.7%

NYSE:FSLY opened at $7.4950 on Friday. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $12.08. The firm has a 50 day moving average of $6.97 and a 200 day moving average of $6.98. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -7.28 and a beta of 1.19.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $148.71 million during the quarter, compared to analysts’ expectations of $144.86 million. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. Fastly’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) earnings per share. As a group, sell-side analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

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.