Fastly, Inc. (NYSE:FSLY) Stake Lowered by Cwm LLC

Cwm LLC cut its stake in Fastly, Inc. (NYSE:FSLY) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,212 shares of the company’s stock after selling 1,564 shares during the quarter. Cwm LLC’s holdings in Fastly were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Fastly by 42.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,006 shares of the company’s stock worth $481,000 after purchasing an additional 7,995 shares during the last quarter. Strs Ohio grew its stake in shares of Fastly by 100.0% in the 4th quarter. Strs Ohio now owns 6,800 shares of the company’s stock valued at $121,000 after buying an additional 3,400 shares in the last quarter. Moody Aldrich Partners LLC bought a new position in Fastly during the fourth quarter valued at approximately $2,155,000. Mirae Asset Global Investments Co. Ltd. raised its position in Fastly by 14.3% during 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 acquiring an additional 166,184 shares in the last quarter. Finally, Allworth Financial LP grew its position in Fastly by 1,420.9% in the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after acquiring an additional 1,975 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Price Performance

NYSE FSLY opened at $12.94 on Thursday. The stock has a 50-day simple moving average of $13.21 and a 200 day simple moving average of $16.26. Fastly, Inc. has a twelve month low of $11.61 and a twelve month high of $25.87. The stock has a market capitalization of $1.77 billion, a PE ratio of -12.44 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, topping 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 company had revenue of $137.78 million during the quarter, compared to analyst estimates of $139.25 million. Research analysts anticipate that Fastly, Inc. will post -1.07 EPS for the current year.

Wall Street Analyst Weigh In

FSLY has been the topic of a number of recent research reports. Bank of America cut their price target on shares of Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Citigroup decreased their price target on Fastly from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research note on Thursday, February 15th. Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $12.00 to $18.00 in a report on Monday, January 8th. Finally, Piper Sandler upgraded Fastly from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $19.00 to $16.00 in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.56.

Insider Activity at Fastly

In other Fastly news, insider Artur Bergman sold 21,875 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.19, for a total value of $551,031.25. Following the sale, the insider now directly owns 6,050,259 shares in the company, valued at approximately $152,406,024.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fastly news, Director Richard Devon Daniels sold 7,766 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 approximately $434,592.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Artur Bergman sold 21,875 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.19, for a total value of $551,031.25. Following the completion of the sale, 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 worth $3,160,402 in the last ninety days. 7.60% of the stock is currently owned by insiders.

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.