Wealthfront Advisers LLC Makes New Investment in Fastly, Inc. (NYSE:FSLY)

Wealthfront Advisers LLC acquired a new position in Fastly, Inc. (NYSE:FSLY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,665 shares of the company’s stock, valued at approximately $72,000.

A number of other hedge funds have also recently added to or reduced their stakes in FSLY. AlphaQuest LLC lifted its stake in Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after buying an additional 2,960 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after buying an additional 3,221 shares during the last quarter. FMR LLC lifted its stake in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Fastly in the fourth quarter valued at $149,000. Finally, Versor Investments LP bought a new stake in Fastly in the fourth quarter valued at $151,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Price Performance

Shares of Fastly stock opened at $7.07 on Wednesday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $8.56 and its two-hundred day moving average price is $8.21. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $14.12. The stock has a market cap of $1.01 billion, a PE ratio of -6.20 and a beta of 1.31.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. As a group, sell-side analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $10.09, for a total value of $100,900.00. Following the transaction, the chief technology officer now owns 3,434,136 shares of the company’s stock, valued at approximately $34,650,432.24. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 6,038 shares of Fastly stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $9.45, for a total value of $57,059.10. Following the completion of the transaction, the chief financial officer now directly owns 519,812 shares in the company, valued at $4,912,223.40. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,699 shares of company stock valued at $1,587,050. 6.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FSLY shares. Citigroup raised their target price on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Monday, December 2nd. Royal Bank of Canada cut their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.55.

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.