First Eagle Investment Management LLC Makes New Investment in Fastly, Inc. (NYSE:FSLY)

First Eagle Investment Management LLC acquired a new position in shares of Fastly, Inc. (NYSE:FSLY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 338,173 shares of the company’s stock, valued at approximately $3,192,000. First Eagle Investment Management LLC owned approximately 0.24% of Fastly as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FSLY. AlphaQuest LLC increased its holdings in Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares in the last quarter. FMR LLC increased 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 purchasing an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after purchasing an additional 3,221 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Fastly in the fourth quarter valued at approximately $72,000. Finally, Aigen Investment Management LP bought a new position in shares of Fastly in the third quarter valued at approximately $89,000. 79.71% of the stock is owned by institutional investors.

Fastly Trading Up 3.4 %

NYSE:FSLY opened at $6.83 on Friday. The company has a market cap of $971.20 million, a P/E ratio of -5.99 and a beta of 1.31. The stock’s fifty day moving average price is $8.67 and its two-hundred day moving average price is $8.18. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $14.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (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, analysts expect that Fastly, Inc. will post -0.78 EPS for the current year.

Insiders Place Their Bets

In related news, 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 sale, the chief technology officer now owns 3,669,058 shares in the company, valued at approximately $25,243,119.04. This trade represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 519,812 shares in the company, valued at $4,912,223.40. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,099 shares of company stock worth $1,627,884 over the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup upped their target price on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada reduced their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.55.

Fastly 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.