Public Employees Retirement System of Ohio Makes New $183,000 Investment in Fastly, Inc. (NYSE:FSLY)

Public Employees Retirement System of Ohio bought a new stake in Fastly, Inc. (NYSE:FSLY) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 24,127 shares of the company’s stock, valued at approximately $183,000.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Fastly by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,130 shares of the company’s stock worth $222,000 after purchasing an additional 3,124 shares during the last quarter. EMC Capital Management boosted its position in Fastly by 400.0% during the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after acquiring an additional 6,000 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Fastly during the 2nd quarter valued at about $103,000. Commonwealth Equity Services LLC raised its holdings in Fastly by 59.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 48,987 shares of the company’s stock valued at $361,000 after acquiring an additional 18,258 shares during the last quarter. Finally, Versor Investments LP purchased a new position in Fastly in the 2nd quarter worth approximately $231,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. DA Davidson upped their price target on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler raised their target price on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Raymond James cut shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Craig Hallum lifted their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley decreased their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.55.

Insider Buying and Selling

In other news, CTO Artur Bergman sold 3,400 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.01, for a total value of $40,834.00. Following the sale, the chief technology officer now directly owns 3,444,136 shares in the company, valued at approximately $41,364,073.36. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the transaction, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at $4,044,003.36. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,641 shares of company stock valued at $1,740,518. Corporate insiders own 6.70% of the company’s stock.

Fastly Price Performance

Fastly stock opened at $10.08 on Friday. The company’s 50 day simple moving average is $8.29 and its 200-day simple moving average is $7.48. 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 $5.52 and a 1 year high of $25.87. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -9.25 and a beta of 1.27.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. During the same quarter in the previous year, the company earned ($0.33) earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Fastly, Inc. will post -0.86 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.