SG Americas Securities LLC Has $19.92 Million Stock Holdings in Fastly, Inc. $FSLY

SG Americas Securities LLC raised its stake in Fastly, Inc. (NYSE:FSLY) by 90.7% in the first quarter, Holdings Channel reports. The firm owned 685,415 shares of the company’s stock after acquiring an additional 326,087 shares during the quarter. SG Americas Securities LLC’s holdings in Fastly were worth $19,918,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Alyeska Investment Group L.P. increased its position in shares of Fastly by 2,795.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after purchasing an additional 4,623,767 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of Fastly in the 3rd quarter valued at approximately $21,174,000. Balyasny Asset Management L.P. grew its stake in shares of Fastly by 3,941.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock valued at $9,383,000 after buying an additional 1,296,119 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Fastly in the fourth quarter valued at $11,657,000. Finally, Algert Global LLC increased its holdings in Fastly by 288.8% during the third quarter. Algert Global LLC now owns 1,521,733 shares of the company’s stock worth $13,011,000 after buying an additional 1,130,293 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Insider Activity

In other news, CTO Artur Bergman sold 32,181 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $16.85, for a total value of $542,249.85. Following the transaction, the chief technology officer directly owned 2,086,529 shares of the company’s stock, valued at $35,158,013.65. This represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott R. Lovett sold 41,716 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $17.77, for a total transaction of $741,293.32. Following the sale, the insider owned 1,392,778 shares of the company’s stock, valued at approximately $24,749,665.06. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 304,062 shares of company stock valued at $5,482,012 over the last ninety days. 6.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Evercore began coverage on shares of Fastly in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price objective for the company. KeyCorp boosted their price objective on shares of Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Royal Bank Of Canada dropped their target price on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. Finally, Piper Sandler cut their target price on shares of Fastly to $27.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.62.

Fastly Trading Down 1.0%

Shares of Fastly stock opened at $16.22 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The business has a fifty day simple moving average of $20.26 and a two-hundred day simple moving average of $17.83. Fastly, Inc. has a 1 year low of $6.29 and a 1 year high of $34.82. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -16.90 and a beta of 0.38.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.