Hsbc Holdings PLC Purchases 1,612 Shares of Fastly, Inc. $FSLY

Hsbc Holdings PLC lifted its position in shares of Fastly, Inc. (NYSE:FSLY) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,938 shares of the company’s stock after purchasing an additional 1,612 shares during the period. Hsbc Holdings PLC’s holdings in Fastly were worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Northern Trust Corp increased its stake in shares of Fastly by 28.3% during the fourth quarter. Northern Trust Corp now owns 1,577,729 shares of the company’s stock worth $14,894,000 after purchasing an additional 348,451 shares during the period. Deutsche Bank AG increased its stake in shares of Fastly by 16.6% during the fourth quarter. Deutsche Bank AG now owns 255,409 shares of the company’s stock worth $2,411,000 after purchasing an additional 36,333 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Fastly during the first quarter worth approximately $91,000. Allianz Asset Management GmbH bought a new position in shares of Fastly during the first quarter worth approximately $111,000. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Fastly by 423.0% during the first quarter. Oppenheimer & Co. Inc. now owns 82,628 shares of the company’s stock worth $523,000 after purchasing an additional 66,828 shares during the period. Institutional investors own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FSLY. KeyCorp upgraded Fastly to a “sector weight” rating in a research note on Thursday, June 5th. Royal Bank Of Canada raised their price objective on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. Finally, Craig Hallum upgraded 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. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Fastly currently has an average rating of “Hold” and a consensus target price of $8.69.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 58,138 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $7.41, for a total value of $430,802.58. Following the sale, the chief technology officer owned 3,521,276 shares of the company’s stock, valued at approximately $26,092,655.16. This trade represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott R. Lovett sold 9,076 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 $62,442.88. Following the completion of the sale, the insider directly owned 1,344,735 shares in the company, valued at approximately $9,251,776.80. This represents a 0.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,781 shares of company stock worth $1,995,833. 6.70% of the stock is owned by company insiders.

Fastly Price Performance

Fastly stock opened at $7.43 on Friday. The stock’s fifty day moving average price is $7.08 and its two-hundred day moving average price is $6.85. The firm has a market cap of $1.09 billion, a PE ratio of -7.21 and a beta of 1.24. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49.

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