Wealth Effects LLC Purchases 5,000 Shares of Fastly, Inc. (NYSE:FSLY)

Wealth Effects LLC grew its position in shares of Fastly, Inc. (NYSE:FSLY) by 21.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,651 shares of the company’s stock after buying an additional 5,000 shares during the period. Wealth Effects LLC’s holdings in Fastly were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in Fastly by 118.9% during the second quarter. Hsbc Holdings PLC now owns 29,703 shares of the company’s stock worth $218,000 after purchasing an additional 16,131 shares during the period. Marshall Wace LLP lifted its holdings in shares of Fastly by 1,197.4% during the 2nd quarter. Marshall Wace LLP now owns 151,172 shares of the company’s stock worth $1,114,000 after acquiring an additional 139,520 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Fastly by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock worth $503,000 after acquiring an additional 2,128 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Fastly in the second quarter valued at approximately $1,233,000. Finally, Algert Global LLC increased its stake in Fastly by 265.0% in the second quarter. Algert Global LLC now owns 39,419 shares of the company’s stock valued at $291,000 after acquiring an additional 28,619 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Stock Performance

Shares of FSLY opened at $10.89 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -9.99 and a beta of 1.24. Fastly, Inc. has a 52-week low of $5.52 and a 52-week high of $25.87. The stock’s 50-day simple moving average is $9.50 and its 200 day simple moving average is $7.90.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on FSLY. DA Davidson upped their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Citigroup increased their target price on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Royal Bank of Canada increased their price objective on shares of Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Finally, Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Fastly has a consensus rating of “Hold” and an average price target of $8.85.

Insider Buying and Selling at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $125,000.00. Following the completion of the transaction, the chief financial officer now owns 525,850 shares of the company’s stock, valued at $5,258,500. This represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Artur Bergman sold 49,178 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the transaction, the chief technology officer now owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 289,330 shares of company stock worth $2,476,849 over the last ninety days. Insiders own 6.70% of the company’s stock.

Fastly 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.