Versor Investments LP Purchases New Position in Fastly, Inc. (NYSE:FSLY)

Versor Investments LP acquired a new stake in Fastly, Inc. (NYSE:FSLY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 16,000 shares of the company’s stock, valued at approximately $151,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares during the last quarter. Aigen Investment Management LP acquired a new position in Fastly in the 3rd quarter worth about $89,000. Oppenheimer & Co. Inc. bought a new position in Fastly in the fourth quarter valued at about $149,000. Proficio Capital Partners LLC acquired a new stake in shares of Fastly during the fourth quarter valued at about $181,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Fastly during the third quarter worth about $183,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Trading Up 0.9 %

Shares of FSLY stock opened at $6.60 on Wednesday. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $14.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $8.17. The company has a market cap of $925.84 million, a P/E ratio of -5.79 and a beta of 1.26.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Research analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, December 2nd. Citigroup lifted their price target on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Piper Sandler restated a “neutral” rating and issued a $9.00 price objective (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Craig Hallum lifted their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Finally, Robert W. Baird upped their price target on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Fastly presently has an average rating of “Hold” and an average target price of $8.55.

Insider Activity

In other news, CEO Todd Nightingale sold 35,509 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total transaction of $285,492.36. Following the completion of the sale, the chief executive officer now owns 1,553,301 shares in the company, valued at $12,488,540.04. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Artur Bergman sold 3,400 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.01, for a total value of $40,834.00. Following the completion of the transaction, the chief technology officer now owns 3,444,136 shares in the company, valued at approximately $41,364,073.36. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,436 shares of company stock worth $1,888,395. Company insiders own 6.70% of the company’s stock.

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.