Fastly, Inc. (NYSE:FSLY) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its position in Fastly, Inc. (NYSE:FSLY) by 95.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,849 shares of the company’s stock after buying an additional 4,318 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Fastly were worth $65,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FSLY. Victory Capital Management Inc. raised its stake in shares of Fastly by 24.8% in the 4th quarter. Victory Capital Management Inc. now owns 16,128 shares of the company’s stock valued at $287,000 after purchasing an additional 3,208 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Fastly by 57.5% in the 4th quarter. Private Advisor Group LLC now owns 16,103 shares of the company’s stock valued at $287,000 after purchasing an additional 5,880 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Fastly by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 947,741 shares of the company’s stock valued at $16,870,000 after purchasing an additional 30,869 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Fastly in the 4th quarter valued at about $541,000. Finally, Norges Bank acquired a new stake in shares of Fastly in the 4th quarter valued at about $8,014,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Trading Up 6.0 %

Fastly stock opened at $7.37 on Wednesday. The firm has a 50 day simple moving average of $6.80 and a 200-day simple moving average of $9.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The stock has a market capitalization of $1.01 billion, a PE ratio of -7.37 and a beta of 1.20. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted ($0.32) earnings per share. As a group, equities research analysts expect that Fastly, Inc. will post -0.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FSLY shares. Morgan Stanley cut their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Piper Sandler lowered shares of Fastly from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $6.00 in a research note on Thursday, August 8th. Raymond James dropped their price objective on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. Finally, Craig Hallum dropped their price objective on shares of Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.81.

Insiders Place Their Bets

In other news, CTO Artur Bergman sold 19,889 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the sale, the chief technology officer now owns 6,205,000 shares in the company, valued at $36,981,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Artur Bergman sold 19,889 shares of Fastly stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total transaction of $118,538.44. Following the completion of the sale, the chief technology officer now owns 6,205,000 shares of the company’s stock, valued at $36,981,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $7.27, for a total value of $87,240.00. Following the sale, the chief financial officer now directly owns 593,506 shares of the company’s stock, valued at $4,314,788.62. The disclosure for this sale can be found here. Insiders sold a total of 155,450 shares of company stock worth $990,251 over the last ninety days. 6.70% of the stock is currently owned by company insiders.

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.