Algert Global LLC Has $13.01 Million Position in Fastly, Inc. $FSLY

Algert Global LLC grew its holdings in Fastly, Inc. (NYSE:FSLY) by 288.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,521,733 shares of the company’s stock after buying an additional 1,130,293 shares during the quarter. Algert Global LLC owned approximately 1.02% of Fastly worth $13,011,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Penserra Capital Management LLC acquired a new stake in Fastly in the 3rd quarter valued at about $61,864,000. Marshall Wace LLP lifted its position in shares of Fastly by 115.2% during the second quarter. Marshall Wace LLP now owns 3,385,167 shares of the company’s stock worth $23,899,000 after purchasing an additional 1,811,935 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Fastly by 3,941.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock valued at $9,383,000 after purchasing an additional 1,296,119 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Fastly during the second quarter valued at approximately $6,697,000. Finally, Vanguard Group Inc. grew its stake in shares of Fastly by 3.4% during the third quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock valued at $142,500,000 after purchasing an additional 554,909 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Price Performance

FSLY opened at $24.58 on Monday. The company has a fifty day moving average price of $13.91 and a two-hundred day moving average price of $11.01. The firm has a market capitalization of $3.73 billion, a PE ratio of -25.60 and a beta of 0.88. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $25.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FSLY shares. Royal Bank Of Canada boosted their price objective on shares of Fastly from $12.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Piper Sandler reissued a “neutral” rating and issued a $14.00 target price (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Oppenheimer began coverage on Fastly in a research report on Monday, November 17th. They set a “market perform” rating for the company. DA Davidson set a $13.00 target price on Fastly in a research report on Thursday, February 12th. Finally, William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fastly has a consensus rating of “Hold” and a consensus target price of $13.14.

Insider Buying and Selling

In related news, CEO Charles Lacey Compton III sold 36,694 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $20.69, for a total value of $759,198.86. Following the completion of the sale, the chief executive officer owned 1,212,778 shares in the company, valued at approximately $25,092,376.82. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Artur Bergman sold 265,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $22.79, for a total value of $6,039,350.00. Following the transaction, the chief technology officer owned 1,604,901 shares of the company’s stock, valued at $36,575,693.79. The trade was a 14.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,618,702 shares of company stock valued at $29,076,652 over the last three months. Company insiders own 6.70% of the company’s stock.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.