Swiss National Bank Acquires 5,500 Shares of Fastly, Inc. (NYSE:FSLY)

Swiss National Bank increased its holdings in shares of Fastly, Inc. (NYSE:FSLY) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 259,000 shares of the company’s stock after purchasing an additional 5,500 shares during the period. Swiss National Bank’s holdings in Fastly were worth $2,445,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. AlphaQuest LLC boosted its position in Fastly by 169.1% during 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. Jones Financial Companies Lllp boosted its position in Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after purchasing an additional 3,221 shares in the last quarter. FMR LLC grew its stake in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares during the last quarter. Wealthfront Advisers LLC bought a new position in Fastly in the fourth quarter worth about $72,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Fastly during the fourth quarter valued at about $149,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Stock Down 2.4 %

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

Fastly (NYSE:FSLY) last issued its 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 net margin of 29.07% and a negative return on equity of 12.75%. Equities analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

Insider Transactions at Fastly

In related news, CTO Artur Bergman sold 31,551 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $10.31, for a total value of $325,290.81. Following the completion of the transaction, the chief technology officer now directly owns 3,394,136 shares in the company, valued at $34,993,542.16. The trade was a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd Nightingale sold 35,509 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total transaction of $285,492.36. Following the sale, the chief executive officer now directly owns 1,553,301 shares in the company, valued at $12,488,540.04. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,699 shares of company stock worth $1,486,150 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on FSLY shares. Oppenheimer assumed coverage on shares of Fastly in a research note on Thursday, March 20th. They set a “market perform” rating for the company. Citigroup increased their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Royal Bank of Canada lowered their price objective on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.