Fastly, Inc. (NYSE:FSLY) Shares Sold by Centiva Capital LP

Centiva Capital LP reduced its stake in shares of Fastly, Inc. (NYSE:FSLY) by 6.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 81,954 shares of the company’s stock after selling 5,325 shares during the period. Centiva Capital LP owned approximately 0.06% of Fastly worth $620,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Firsthand Capital Management Inc. boosted its stake in shares of Fastly by 150.0% in the third quarter. Firsthand Capital Management Inc. now owns 50,000 shares of the company’s stock worth $378,000 after buying an additional 30,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fastly by 17.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,524 shares of the company’s stock worth $269,000 after purchasing an additional 5,394 shares in the last quarter. FMR LLC grew its stake in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Fastly by 5.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 71,876 shares of the company’s stock valued at $544,000 after purchasing an additional 3,575 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Insider Buying and Selling at Fastly

In other Fastly news, CEO Todd Nightingale sold 49,816 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 1,600,973 shares in the company, valued at $10,006,081.25. This represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Artur Bergman sold 29,858 shares of Fastly stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $10.07, for a total value of $300,670.06. Following the transaction, the chief technology officer now owns 6,088,236 shares in the company, valued at approximately $61,308,536.52. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,600 shares of company stock worth $1,402,681. Insiders own 6.70% of the company’s stock.

Fastly Stock Performance

Shares of NYSE:FSLY opened at $10.90 on Friday. The business’s 50 day moving average price is $7.64 and its 200-day moving average price is $7.31. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. 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 firm has a market capitalization of $1.53 billion, a PE ratio of -10.00 and a beta of 1.27.

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

Wall Street Analyst Weigh In

Several analysts recently commented on FSLY shares. Piper Sandler raised their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Monday, December 2nd. Morgan Stanley reduced their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Robert W. Baird increased their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.55.

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.