Vident Advisory LLC Grows Stock Holdings in Fastly, Inc. $FSLY

Vident Advisory LLC boosted its holdings in shares of Fastly, Inc. (NYSE:FSLY) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,316 shares of the company’s stock after buying an additional 1,438 shares during the quarter. Vident Advisory LLC’s holdings in Fastly were worth $217,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FSLY. Northern Trust Corp grew its position in Fastly by 28.3% during the fourth quarter. Northern Trust Corp now owns 1,577,729 shares of the company’s stock valued at $14,894,000 after buying an additional 348,451 shares during the period. Deutsche Bank AG grew its stake in Fastly by 16.6% during the fourth quarter. Deutsche Bank AG now owns 255,409 shares of the company’s stock valued at $2,411,000 after acquiring an additional 36,333 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in Fastly by 11.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 66,208 shares of the company’s stock valued at $625,000 after purchasing an additional 6,950 shares during the last quarter. Man Group plc lifted its position in Fastly by 104.7% during the fourth quarter. Man Group plc now owns 27,948 shares of the company’s stock valued at $264,000 after purchasing an additional 14,292 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Fastly by 48.3% during the fourth quarter. ProShare Advisors LLC now owns 38,198 shares of the company’s stock valued at $361,000 after purchasing an additional 12,449 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

Fastly Stock Down 3.9%

FSLY stock opened at $7.36 on Thursday. The firm has a 50 day moving average of $7.12 and a 200 day moving average of $6.85. The stock has a market capitalization of $1.08 billion, a PE ratio of -7.14 and a beta of 1.24. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $12.08.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, topping 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% on a year-over-year basis. During the same period last year, the business earned ($0.07) EPS. Sell-side analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 20,000 shares of Fastly stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $7.45, for a total transaction of $149,000.00. Following the completion of the sale, the chief technology officer directly owned 3,501,276 shares in the company, valued at approximately $26,084,506.20. The trade was a 0.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard Devon Daniels sold 18,248 shares of Fastly stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $7.61, for a total transaction of $138,867.28. Following the sale, the director owned 67,652 shares of the company’s stock, valued at approximately $514,831.72. The trade was a 21.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,781 shares of company stock valued at $2,144,833. 6.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. KeyCorp upgraded shares of Fastly to a “sector weight” rating in a report on Thursday, June 5th. Finally, Craig Hallum upgraded shares of Fastly from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Fastly has an average rating of “Hold” and a consensus price target of $8.69.

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.