Concurrent Investment Advisors LLC Purchases Shares of 109,943 Fastly, Inc. (NYSE:FSLY)

Concurrent Investment Advisors LLC bought a new stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 109,943 shares of the company's stock, valued at approximately $696,000. Concurrent Investment Advisors LLC owned about 0.08% of Fastly as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC raised its position in shares of 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 during the last quarter. GAMMA Investing LLC grew its holdings in shares of Fastly by 451.7% in the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after buying an additional 5,945 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after buying an additional 3,221 shares during the period. Wealthfront Advisers LLC acquired a new position in shares of Fastly in the 4th quarter valued at $72,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Fastly in the 4th quarter valued at $82,000. Institutional investors own 79.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FSLY shares. Oppenheimer started coverage on shares of Fastly in a report on Thursday, March 20th. They issued a "market perform" rating for the company. KeyCorp raised shares of Fastly to a "sector weight" rating in a report on Thursday, June 5th. Morgan Stanley boosted their price target on shares of Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Piper Sandler boosted their price target on shares of Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Royal Bank Of Canada upped their target price on shares of Fastly from $5.00 to $6.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.28.

Fastly Stock Down 3.3%

Shares of Fastly stock traded down $0.23 during trading hours on Friday, reaching $6.70. 2,003,162 shares of the company's stock were exchanged, compared to its average volume of 3,099,898. The company has a 50 day moving average of $7.27 and a two-hundred day moving average of $7.55. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.16. The stock has a market cap of $969.42 million, a P/E ratio of -6.15 and a beta of 1.23.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The company had revenue of $144.47 million during the quarter, compared to the consensus estimate of $138.40 million. During the same period in the prior year, the business posted ($0.05) EPS. The company's quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Insider Transactions at Fastly

In other news, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $7.41, for a total transaction of $88,920.00. Following the completion of the transaction, the chief financial officer directly owned 635,053 shares in the company, valued at $4,705,742.73. This represents a 1.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Scott R. Lovett sold 127,608 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $6.95, for a total transaction of $886,875.60. Following the completion of the sale, the executive directly owned 1,287,145 shares in the company, valued at approximately $8,945,657.75. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,283 shares of company stock worth $1,151,817 in the last three months. Insiders own 6.70% of the company's stock.

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.