Raymond James Financial Inc. Takes $3.72 Million Position in Fastly, Inc. (NYSE:FSLY)

Raymond James Financial Inc. purchased a new stake in Fastly, Inc. (NYSE:FSLY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 393,794 shares of the company's stock, valued at approximately $3,717,000. Raymond James Financial Inc. owned about 0.28% of Fastly as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in FSLY. AlphaQuest LLC grew its holdings 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 buying an additional 2,960 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Fastly by 128.9% during the 4th 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 last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Fastly in the fourth quarter valued at about $72,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Fastly during the fourth quarter worth about $83,000. Finally, Cibc World Markets Corp purchased a new position in Fastly during the fourth quarter worth about $115,000. Hedge funds and other institutional investors own 79.71% of the company's stock.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 10,000 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $10.58, for a total value of $105,800.00. Following the completion of the transaction, the chief technology officer now owns 3,364,136 shares in the company, valued at approximately $35,592,558.88. This represents a 0.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Nightingale sold 35,509 shares of Fastly 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 owns 1,553,301 shares in the company, valued at $12,488,540.04. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 112,903 shares of company stock valued at $900,727. Insiders own 6.70% of the company's stock.

Fastly Stock Up 1.6 %

Shares of NYSE:FSLY traded up $0.10 during trading on Friday, hitting $5.88. The company's stock had a trading volume of 367,218 shares, compared to its average volume of 3,248,117. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08. The business has a 50 day moving average price of $6.19 and a two-hundred day moving average price of $7.95. 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 company has a market capitalization of $850.03 million, a PE ratio of -5.17 and a beta of 1.43.

Fastly (NYSE:FSLY - Get Free Report) last issued its earnings results 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 net margin of 29.07% and a negative return on equity of 12.75%. As a group, research analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price target 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. Morgan Stanley lowered their price objective on Fastly from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Piper Sandler cut their target price on Fastly from $9.00 to $6.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. 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 stock a "neutral" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $8.25.

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.