Raymond James Financial Inc. Acquires New Position in Fastly, Inc. (NYSE:FSLY)

Raymond James Financial Inc. acquired a new stake in shares of Fastly, Inc. (NYSE:FSLY) during the 4th quarter, Holdings Channel.com reports. The fund acquired 393,794 shares of the company’s stock, valued at approximately $3,717,000.

Other large investors also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in shares of Fastly in the 4th quarter worth about $181,000. Cornerstone Investment Partners LLC acquired a new stake in Fastly during the fourth quarter worth about $249,000. Charles Schwab Investment Management Inc. lifted its holdings in Fastly by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,074,175 shares of the company’s stock worth $10,140,000 after acquiring an additional 16,533 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Fastly in the fourth quarter worth about $161,000. Finally, Jones Financial Companies Lllp boosted its stake in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after acquiring an additional 3,221 shares during the period. Institutional investors own 79.71% of the company’s stock.

Insider Buying and Selling

In other Fastly news, CFO Ronald W. Kisling sold 12,500 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $125,000.00. Following the completion of the sale, the chief financial officer now directly owns 525,850 shares of the company’s stock, valued at approximately $5,258,500. This represents a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 8,595 shares of Fastly stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $6.87, for a total transaction of $59,047.65. Following the completion of the transaction, the chief executive officer now directly owns 1,544,706 shares in the company, valued at $10,612,130.22. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,699 shares of company stock valued at $1,486,150 over the last quarter. Corporate insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of research reports. Oppenheimer initiated coverage on Fastly in a research report on Thursday, March 20th. They set a “market perform” rating on the stock. Citigroup increased their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Royal Bank of Canada reduced their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price target (down previously from $10.00) on shares of Fastly in a research report on Thursday, February 13th. 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, Fastly has an average rating of “Hold” and an average target price of $8.55.

Fastly Price Performance

Shares of NYSE FSLY opened at $6.71 on Friday. The stock has a market cap of $954.26 million, a P/E ratio of -5.88 and a beta of 1.31. The firm’s 50-day simple moving average is $8.25 and its 200 day simple moving average is $8.23. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $14.12. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Equities analysts expect that Fastly, Inc. will post -0.78 EPS for the current year.

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.