SBI Securities Co. Ltd. Buys New Shares in Fastly, Inc. (NYSE:FSLY)

SBI Securities Co. Ltd. bought a new stake in Fastly, Inc. (NYSE:FSLY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,007 shares of the company’s stock, valued at approximately $161,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased 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 purchasing an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp increased 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 purchasing an additional 3,221 shares in the last quarter. Aigen Investment Management LP bought a new stake in Fastly in the third quarter valued at $89,000. 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 Trading Down 7.4 %

Shares of FSLY stock opened at $6.47 on Friday. Fastly, Inc. has a 52-week low of $5.52 and a 52-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 company has a 50-day simple moving average of $9.00 and a two-hundred day simple moving average of $8.15. The company has a market capitalization of $921.11 million, a price-to-earnings ratio of -5.68 and a beta of 1.31.

Fastly (NYSE:FSLY) last issued its quarterly earnings data 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%. Research analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Robert W. Baird lifted their price target on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Monday, December 2nd. Finally, DA Davidson boosted their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Fastly has an average rating of “Hold” and an average price target of $8.55.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 3,400 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value of $40,834.00. Following the transaction, the chief technology officer now directly owns 3,444,136 shares in the company, valued at $41,364,073.36. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Nightingale sold 8,595 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total transaction of $59,047.65. Following the completion of the transaction, the chief executive officer now owns 1,544,706 shares in the company, valued at approximately $10,612,130.22. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 177,099 shares of company stock valued at $1,627,884. Corporate insiders own 6.70% of the company’s stock.

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.