Fastly, Inc. (NYSE:FSLY) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. raised its position in Fastly, Inc. (NYSE:FSLY - Free Report) by 402.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 844,349 shares of the company's stock after acquiring an additional 676,408 shares during the period. Alliancebernstein L.P. owned approximately 0.60% of Fastly worth $7,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. 180 Wealth Advisors LLC raised its position in shares of Fastly by 2.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company's stock valued at $648,000 after purchasing an additional 1,695 shares during the last quarter. AlphaQuest LLC increased its stake 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 purchasing an additional 2,960 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Fastly by 1.6% in the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company's stock worth $1,814,000 after buying an additional 3,081 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of 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 during the period. Finally, FMR LLC grew its holdings in shares of Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company's stock valued at $48,000 after buying an additional 3,522 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSLY has been the subject of a number of research analyst reports. Piper Sandler reduced 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. Morgan Stanley reduced their price objective on Fastly from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday. Oppenheimer initiated coverage on Fastly in a report on Thursday, March 20th. They set a "market perform" rating for the company. Royal Bank of Canada cut their price target on shares of Fastly from $10.00 to $8.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Finally, Citigroup lifted their price objective on shares of Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $8.25.

Insider Buying and Selling

In related news, CTO Artur Bergman sold 10,000 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $10.12, for a total value of $101,200.00. Following the transaction, the chief technology officer now directly owns 3,384,136 shares of the company's stock, valued at approximately $34,247,456.32. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of Fastly stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $6.32, for a total value of $75,840.00. Following the completion of the sale, the chief financial officer now owns 671,035 shares in the company, valued at approximately $4,240,941.20. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 149,112 shares of company stock valued at $1,299,119. 6.70% of the stock is owned by company insiders.

Fastly Stock Performance

Shares of NYSE:FSLY traded down $0.05 during trading on Thursday, hitting $5.28. 383,496 shares of the stock traded hands, compared to its average volume of 3,323,102. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $6.82 and a two-hundred day moving average price of $8.09. Fastly, Inc. has a 52-week low of $4.65 and a 52-week high of $13.36. The company has a market cap of $750.63 million, a price-to-earnings ratio of -4.64 and a beta of 1.43.

Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings data 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 predict 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.