3,742,985 Shares in Fastly, Inc. (NYSE:FSLY) Purchased by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. bought a new position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,742,985 shares of the company's stock, valued at approximately $35,334,000. Alyeska Investment Group L.P. owned approximately 2.67% of Fastly as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in Fastly during the fourth quarter worth about $7,618,000. Alliancebernstein L.P. increased its stake in Fastly by 402.8% in the fourth quarter. Alliancebernstein L.P. now owns 844,349 shares of the company's stock valued at $7,971,000 after acquiring an additional 676,408 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Fastly during the fourth quarter valued at approximately $3,717,000. Northern Trust Corp raised its position in Fastly by 28.3% during the fourth quarter. Northern Trust Corp now owns 1,577,729 shares of the company's stock valued at $14,894,000 after purchasing an additional 348,451 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in Fastly during the fourth quarter worth $3,192,000. Institutional investors own 79.71% of the company's stock.

Insider Activity at Fastly

In related news, CTO Artur Bergman sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $10.58, for a total transaction of $105,800.00. Following the completion of the sale, the chief technology officer now owns 3,364,136 shares of the company's stock, valued at $35,592,558.88. This trade represents a 0.30 % decrease in their ownership of the stock. 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 that occurred on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the transaction, the chief executive officer now owns 1,553,301 shares in the company, valued at $12,488,540.04. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,903 shares of company stock worth $798,627 over the last quarter. Company insiders own 6.70% of the company's stock.

Fastly Trading Up 4.2 %

FSLY traded up $0.25 during midday trading on Wednesday, hitting $6.08. 6,902,202 shares of the company were exchanged, compared to its average volume of 3,116,001. The firm has a market capitalization of $878.97 million, a P/E ratio of -5.33 and a beta of 1.47. The firm's 50 day moving average price is $6.13 and its 200-day moving average price is $7.93. 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, Inc. has a 1-year low of $4.65 and a 1-year high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share 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%. As a group, equities analysts forecast that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLY has been the subject of a number of research analyst reports. Royal Bank of Canada lowered their price target on Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Oppenheimer began coverage on shares of Fastly in a report on Thursday, March 20th. They issued a "market perform" rating for the company. Citigroup upped their price objective on shares of Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Piper Sandler decreased their target price on shares of Fastly from $9.00 to $6.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley lowered their price target on shares of Fastly from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Fastly has an average rating of "Hold" and a consensus price target of $8.28.

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.