American Century Companies Inc. Has $813,000 Holdings in Fastly, Inc. $FSLY

Key Points

• American Century Companies Inc. increased its holdings in Fastly, Inc. by 322.1% in the first quarter, owning 128,481 shares worth approximately $813,000.
• Insider transactions revealed that CEO Charles Lacey Compton III sold 15,335 shares, decreasing his ownership by 2.23%, while Director Richard Devon Daniels sold 18,248 shares, reducing his position by 21.24%.
• Fastly reported quarterly earnings showing a revenue increase of 12.3% year-over-year and earnings per share beating estimates, though the company remains in the red with a negative return on equity.

American Century Companies Inc. increased its position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 322.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 128,481 shares of the company's stock after acquiring an additional 98,043 shares during the quarter. American Century Companies Inc. owned approximately 0.09% of Fastly worth $813,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Fastly by 451.7% in the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after purchasing an additional 5,945 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Fastly during the 1st quarter valued at about $91,000. Bryce Point Capital LLC acquired a new position in shares of Fastly during the first quarter worth $99,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fastly during the fourth quarter valued at about $105,000. Finally, CWM LLC increased its holdings in Fastly by 37.9% during the 1st quarter. CWM LLC now owns 17,371 shares of the company's stock worth $110,000 after purchasing an additional 4,777 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FSLY. Royal Bank Of Canada raised their price objective on Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. KeyCorp raised Fastly to a "sector weight" rating in a research note on Thursday, June 5th. Finally, Craig Hallum raised Fastly from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.69.

Fastly Trading Down 3.9%

FSLY traded down $0.30 during trading on Wednesday, reaching $7.36. The company had a trading volume of 2,466,103 shares, compared to its average volume of 2,227,968. The firm's 50-day simple moving average is $7.12 and its 200 day simple moving average is $6.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -7.14 and a beta of 1.24. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The company had revenue of $148.71 million during the quarter, compared to analysts' expectations of $144.86 million. During the same period last year, the company posted ($0.07) earnings per share. The business's revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current year.

Insiders Place Their Bets

In other Fastly news, CEO Charles Lacey Compton III sold 15,335 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.88, for a total transaction of $105,504.80. Following the completion of the sale, the chief executive officer directly owned 673,645 shares in the company, valued at approximately $4,634,677.60. This trade represents a 2.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Scott R. Lovett sold 127,608 shares of the company's stock in a transaction that occurred on 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 transaction, the executive owned 1,287,145 shares in the company, valued at approximately $8,945,657.75. This represents a 9.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 300,781 shares of company stock valued at $2,144,833 over the last ninety days. Corporate 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.