SG Americas Securities LLC Has $19.92 Million Stock Holdings in Fastly, Inc. $FSLY

SG Americas Securities LLC increased its position in shares of Fastly, Inc. (NYSE:FSLY) by 90.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 685,415 shares of the company’s stock after acquiring an additional 326,087 shares during the quarter. SG Americas Securities LLC owned about 0.45% of Fastly worth $19,918,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Divisadero Street Capital Management LP bought a new stake in shares of Fastly in the 3rd quarter valued at $21,174,000. Vanguard Group Inc. raised its stake in Fastly by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock worth $142,500,000 after buying an additional 554,909 shares during the period. Picton Mahoney Asset Management bought a new position in Fastly during the third quarter worth about $781,000. Algert Global LLC lifted its holdings in Fastly by 288.8% during the third quarter. Algert Global LLC now owns 1,521,733 shares of the company’s stock worth $13,011,000 after acquiring an additional 1,130,293 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Fastly in the fourth quarter valued at about $117,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLY has been the subject of several recent analyst reports. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a report on Tuesday, April 14th. Raymond James Financial upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a report on Friday, May 8th. Royal Bank Of Canada cut their price target on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Evercore started coverage on shares of Fastly in a report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target for the company. Finally, KeyCorp increased their price objective on shares of Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Fastly presently has an average rating of “Hold” and a consensus target price of $22.62.

Fastly Trading Down 1.0%

NYSE FSLY opened at $16.22 on Friday. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -16.90 and a beta of 0.38. The stock’s 50 day moving average price is $20.26 and its two-hundred day moving average price is $17.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Fastly, Inc. has a 52 week low of $6.29 and a 52 week high of $34.82.

Insider Buying and Selling at Fastly

In related news, CEO Charles Lacey Compton III sold 9,313 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $20.79, for a total value of $193,617.27. Following the completion of the transaction, the chief executive officer owned 1,063,945 shares of the company’s stock, valued at approximately $22,119,416.55. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Wong sold 2,500 shares of Fastly stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $16.48, for a total transaction of $41,200.00. Following the completion of the sale, the chief financial officer owned 1,239,301 shares in the company, valued at $20,423,680.48. The trade was a 0.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 304,062 shares of company stock valued at $5,482,012 over the last ninety days. 6.70% of the stock is currently owned by company insiders.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.