Stephens Inc. AR Invests $967,000 in Fastly, Inc. $FSLY

Stephens Inc. AR acquired a new position in shares of Fastly, Inc. (NYSE:FSLY) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 33,269 shares of the company’s stock, valued at approximately $967,000.

Other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Fastly in the 4th quarter worth $41,000. Align Financial LLC acquired a new stake in shares of Fastly in the 4th quarter valued at about $41,000. Sound Income Strategies LLC bought a new stake in shares of Fastly in the first quarter valued at about $44,000. Quarry LP bought a new stake in shares of Fastly in the third quarter valued at about $49,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Fastly in the first quarter valued at about $52,000. 79.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a report on Friday, May 8th. Citigroup boosted their target price on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. KeyCorp upped their price target on Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Evercore initiated coverage on shares of Fastly in a research note on Tuesday, April 14th. They set an “outperform” rating and a $24.00 price target for the company. Finally, Piper Sandler lowered their price objective on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.62.

Fastly Trading Down 3.6%

Fastly stock opened at $19.59 on Friday. The firm has a 50-day moving average of $18.84 and a 200-day moving average of $18.41. Fastly, Inc. has a one year low of $6.29 and a one year high of $34.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -20.41 and a beta of 0.34.

Insider Buying and Selling

In related news, CFO Richard Wong sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $16.48, for a total transaction of $41,200.00. Following the sale, the chief financial officer owned 1,239,301 shares in the company, valued at approximately $20,423,680.48. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Lacey Compton III sold 9,313 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 1,063,945 shares of the company’s stock, valued at $22,119,416.55. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 304,062 shares of company stock worth $5,482,012 in the last three months. Insiders own 6.70% of the company’s stock.

Fastly 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.