Virtu Financial LLC Acquires New Shares in Fastly, Inc. (NYSE:FSLY)

Virtu Financial LLC acquired a new position in shares of Fastly, Inc. (NYSE:FSLY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 26,153 shares of the company’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC acquired a new position in Fastly in the 3rd quarter valued at approximately $328,000. Charles Schwab Investment Management Inc. grew its stake in shares of Fastly by 18.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after purchasing an additional 161,070 shares during the last quarter. Bank of Montreal Can increased its holdings in Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares during the period. The Manufacturers Life Insurance Company raised its position in Fastly by 5.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 71,876 shares of the company’s stock worth $544,000 after purchasing an additional 3,575 shares during the last quarter. Finally, FMR LLC lifted its holdings in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

Insider Buying and Selling

In other news, CEO Todd Nightingale sold 8,595 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total value of $59,047.65. Following the transaction, the chief executive officer now owns 1,544,706 shares of the company’s stock, valued at approximately $10,612,130.22. This represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Artur Bergman sold 5,304 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.88, for a total value of $36,491.52. Following the completion of the sale, the chief technology officer now owns 3,669,058 shares in the company, valued at $25,243,119.04. This trade represents a 0.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,699 shares of company stock valued at $1,486,150. Corporate insiders own 6.70% of the company’s stock.

Wall Street Analyst Weigh In

FSLY has been the subject of several recent research reports. Citigroup increased their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Royal Bank of Canada lowered their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Oppenheimer started coverage on shares of Fastly in a research report on Thursday, March 20th. They issued a “market perform” rating on the stock. Finally, Piper Sandler reissued a “neutral” rating and set a $9.00 target price (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat, Fastly presently has an average rating of “Hold” and a consensus price target of $8.55.

Fastly Stock Performance

Shares of Fastly stock opened at $6.51 on Friday. The business’s fifty day simple moving average is $8.20 and its 200 day simple moving average is $8.24. 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 firm has a market capitalization of $925.66 million, a P/E ratio of -5.71 and a beta of 1.31. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $14.12.

Fastly (NYSE:FSLY) last posted its earnings results 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 return on equity of 12.75% and a negative net margin of 29.07%. As a group, analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

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.