Midwest Financial Group LLC Trims Stake in Fastly, Inc. (NYSE:FSLY)

Midwest Financial Group LLC lessened its position in shares of Fastly, Inc. (NYSE:FSLY) by 8.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,900 shares of the company’s stock after selling 1,275 shares during the quarter. Midwest Financial Group LLC’s holdings in Fastly were worth $131,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FSLY. Point72 DIFC Ltd purchased a new position in shares of Fastly during the second quarter worth about $38,000. FMR LLC grew its stake in shares of Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Fastly in the third quarter valued at approximately $89,000. Blue Trust Inc. raised its stake in shares of Fastly by 15.2% during the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after purchasing an additional 2,296 shares during the last quarter. Finally, Cim Investment Management Inc. purchased a new stake in shares of Fastly during the second quarter worth approximately $144,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Craig Hallum boosted their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. DA Davidson boosted their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Raymond James cut shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Robert W. Baird lifted their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.85.

Fastly Price Performance

Shares of NYSE:FSLY opened at $10.42 on Friday. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -9.61 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The business’s 50 day simple moving average is $9.28 and its 200-day simple moving average is $7.84. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $25.87.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. During the same period in the previous year, the business earned ($0.33) earnings per share. Fastly’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Todd Nightingale sold 49,816 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $311,350.00. Following the sale, the chief executive officer now owns 1,600,973 shares of the company’s stock, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 49,178 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total value of $396,866.46. Following the transaction, the chief technology officer now directly owns 6,155,822 shares of the company’s stock, valued at $49,677,483.54. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 247,779 shares of company stock worth $2,050,359 in the last three months. Corporate insiders own 6.70% of the company’s stock.

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.