Fastly, Inc. (NYSE:FSLY) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Fastly, Inc. (NYSE:FSLY) by 39.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,379 shares of the company’s stock after selling 6,079 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Fastly were worth $167,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Fastly by 14.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,325,751 shares of the company’s stock valued at $23,598,000 after purchasing an additional 166,184 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Fastly by 1,420.9% in the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock valued at $38,000 after purchasing an additional 1,975 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Fastly in the fourth quarter worth approximately $61,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Fastly by 14.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 136,033 shares of the company’s stock worth $2,421,000 after purchasing an additional 16,694 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of Fastly by 168.0% during the 4th quarter. Raymond James & Associates now owns 166,042 shares of the company’s stock valued at $2,956,000 after acquiring an additional 104,096 shares in the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

Fastly Trading Up 4.4 %

Shares of NYSE:FSLY opened at $12.95 on Monday. Fastly, Inc. has a 52-week low of $11.61 and a 52-week high of $25.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14. The company has a market cap of $1.77 billion, a P/E ratio of -12.45 and a beta of 1.22. The stock’s 50-day moving average is $13.34 and its 200-day moving average is $16.32.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. The firm had revenue of $137.78 million for the quarter, compared to analyst estimates of $139.25 million. Equities research analysts predict that Fastly, Inc. will post -1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FSLY shares. Royal Bank of Canada raised Fastly from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $12.00 to $18.00 in a research report on Monday, January 8th. Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a report on Thursday, February 15th. Citigroup decreased their price objective on shares of Fastly from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday. Bank of America lowered their target price on shares of Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Finally, Piper Sandler raised Fastly from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $19.00 to $16.00 in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.56.

Insider Buying and Selling at Fastly

In related news, insider Artur Bergman sold 21,875 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.19, for a total transaction of $551,031.25. Following the transaction, the insider now directly owns 6,050,259 shares in the company, valued at $152,406,024.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Richard Devon Daniels sold 7,766 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $12.66, for a total value of $98,317.56. Following the completion of the transaction, the director now owns 34,328 shares of the company’s stock, valued at $434,592.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Artur Bergman sold 21,875 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.19, for a total transaction of $551,031.25. Following the transaction, the insider now owns 6,050,259 shares of the company’s stock, valued at approximately $152,406,024.21. The disclosure for this sale can be found here. Insiders sold a total of 199,201 shares of company stock valued at $3,160,402 in the last ninety days. Company insiders own 7.60% of the company’s stock.

About Fastly

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.