Centiva Capital LP Has $466,000 Position in Fastly, Inc. (NYSE:FSLY)

Centiva Capital LP reduced its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 39.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,333 shares of the company's stock after selling 32,621 shares during the period. Centiva Capital LP's holdings in Fastly were worth $466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bridgefront Capital LLC acquired a new stake in Fastly in the 4th quarter worth about $143,000. Bayesian Capital Management LP acquired a new position in shares of Fastly during the 4th quarter worth approximately $312,000. Alyeska Investment Group L.P. acquired a new position in shares of Fastly during the 4th quarter worth approximately $35,334,000. PDT Partners LLC boosted its holdings in shares of Fastly by 247.2% during the 4th quarter. PDT Partners LLC now owns 254,943 shares of the company's stock worth $2,407,000 after purchasing an additional 181,519 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Fastly by 28.3% during the 4th quarter. Northern Trust Corp now owns 1,577,729 shares of the company's stock worth $14,894,000 after purchasing an additional 348,451 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.

Insider Buying and Selling at Fastly

In related news, CFO Ronald W. Kisling sold 11,269 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $90,602.76. Following the completion of the transaction, the chief financial officer now owns 508,543 shares in the company, valued at approximately $4,088,685.72. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 8,595 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 1,544,706 shares of the company's stock, valued at $10,612,130.22. The trade was a 0.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,903 shares of company stock valued at $692,827. Corporate insiders own 6.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Oppenheimer initiated coverage on Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating on the stock. Morgan Stanley raised their price target on Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Royal Bank of Canada raised their price objective on shares of Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Piper Sandler raised their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Citigroup raised their price objective on shares of Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Nine analysts have rated the stock with a hold rating, According to data from MarketBeat, Fastly currently has a consensus rating of "Hold" and a consensus target price of $8.28.

Fastly Stock Down 1.3%

Shares of FSLY traded down $0.11 during mid-day trading on Friday, hitting $7.94. 1,246,327 shares of the company's stock were exchanged, compared to its average volume of 3,118,943. Fastly, Inc. has a twelve month low of $4.65 and a twelve month high of $12.08. The firm has a fifty day moving average of $6.28 and a two-hundred day moving average of $7.95. 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 stock has a market cap of $1.15 billion, a price-to-earnings ratio of -6.97 and a beta of 1.47.

Fastly (NYSE:FSLY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. The business had revenue of $144.47 million for the quarter, compared to analyst estimates of $138.40 million. During the same period in the previous year, the business earned ($0.05) EPS. The firm's revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

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.