PDT Partners LLC Raises Stake in Fastly, Inc. (NYSE:FSLY)

PDT Partners LLC raised its position in Fastly, Inc. (NYSE:FSLY) by 247.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,943 shares of the company’s stock after purchasing an additional 181,519 shares during the period. PDT Partners LLC’s holdings in Fastly were worth $2,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FSLY. 180 Wealth Advisors LLC lifted its stake in Fastly by 2.5% during the fourth quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock worth $648,000 after purchasing an additional 1,695 shares during the last quarter. SG Americas Securities LLC raised its holdings in Fastly by 56.6% during the fourth quarter. SG Americas Securities LLC now owns 346,632 shares of the company’s stock worth $3,272,000 after purchasing an additional 125,275 shares in the last quarter. Wealth Effects LLC lifted its position in shares of Fastly by 21.1% during the 4th quarter. Wealth Effects LLC now owns 28,651 shares of the company’s stock worth $270,000 after buying an additional 5,000 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Fastly by 239.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 64,500 shares of the company’s stock worth $609,000 after buying an additional 45,500 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock valued at $1,814,000 after buying an additional 3,081 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on FSLY. Citigroup boosted their price target on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Piper Sandler cut their target price on Fastly from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Oppenheimer assumed coverage on Fastly in a research report on Thursday, March 20th. They issued a “market perform” rating for the company. Royal Bank of Canada dropped their price target on 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, Morgan Stanley lowered their target price on shares of Fastly from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.25.

Insiders Place Their Bets

In related news, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $10.58, for a total value of $105,800.00. Following the sale, the chief technology officer now directly owns 3,364,136 shares in the company, valued at $35,592,558.88. The trade was a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Nightingale sold 35,509 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the completion of the transaction, the chief executive officer now owns 1,553,301 shares of the company’s stock, valued at $12,488,540.04. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,903 shares of company stock worth $900,727. Company insiders own 6.70% of the company’s stock.

Fastly Stock Performance

Shares of FSLY opened at $5.89 on Wednesday. The stock has a market capitalization of $852.20 million, a P/E ratio of -5.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. Fastly, Inc. has a 1 year low of $4.65 and a 1 year high of $13.36. The company’s fifty day moving average is $6.25 and its two-hundred day moving average is $7.98.

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

About Fastly

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.