Intech Investment Management LLC Has $625,000 Position in Fastly, Inc. (NYSE:FSLY)

Intech Investment Management LLC raised its holdings in Fastly, Inc. (NYSE:FSLY) by 52.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,196 shares of the company’s stock after buying an additional 22,818 shares during the period. Intech Investment Management LLC’s holdings in Fastly were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. AlphaQuest LLC lifted its position in Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after acquiring an additional 2,960 shares in the last quarter. FMR LLC grew its holdings in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after buying an additional 3,221 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Fastly in the 4th quarter valued at $72,000. Finally, Cibc World Markets Corp bought a new position in Fastly during the 4th quarter valued at $115,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Stock Performance

NYSE:FSLY opened at $7.23 on Tuesday. The company has a market capitalization of $1.03 billion, a P/E ratio of -6.34 and a beta of 1.31. The business has a fifty day simple moving average of $8.40 and a two-hundred day simple moving average of $8.24. 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, Inc. has a 1 year low of $5.52 and a 1 year high of $14.12.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share 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%. On average, analysts expect that Fastly, Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling

In other Fastly news, CTO Artur Bergman sold 8,049 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.04, for a total value of $80,811.96. Following the completion of the transaction, the chief technology officer now owns 3,426,087 shares in the company, valued at $34,397,913.48. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Nightingale sold 8,595 shares of Fastly stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total value of $59,047.65. Following the transaction, the chief executive officer now directly owns 1,544,706 shares of the company’s stock, valued at $10,612,130.22. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,699 shares of company stock valued at $1,486,150. Company insiders own 6.70% of the company’s stock.

Analysts Set New Price Targets

FSLY has been the subject of several analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada decreased their price objective 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. Oppenheimer initiated coverage on Fastly in a research note on Thursday, March 20th. They issued a “market perform” rating on the stock. Finally, Citigroup increased their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.55.

Fastly Company 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.