Ameriprise Financial Inc. Trims Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Ameriprise Financial Inc. trimmed its position in Fastly, Inc. (NYSE:FSLY - Free Report) by 65.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,431 shares of the company's stock after selling 35,003 shares during the quarter. Ameriprise Financial Inc.'s holdings in Fastly were worth $174,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Fastly by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 15,289,861 shares of the company's stock valued at $144,336,000 after purchasing an additional 103,440 shares during the last quarter. Legal & General Group Plc grew its position in Fastly by 2.4% in the fourth quarter. Legal & General Group Plc now owns 8,025,959 shares of the company's stock valued at $75,765,000 after acquiring an additional 189,667 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Fastly in the fourth quarter valued at about $35,334,000. First Trust Advisors LP grew its holdings in shares of Fastly by 4.9% during the 4th quarter. First Trust Advisors LP now owns 3,139,255 shares of the company's stock valued at $29,635,000 after purchasing an additional 147,458 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Fastly by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,098,509 shares of the company's stock valued at $29,250,000 after purchasing an additional 12,974 shares during the last quarter. 79.71% of the stock is owned by institutional investors.

Fastly Stock Up 1.6%

FSLY stock traded up $0.12 during midday trading on Friday, hitting $7.66. The company's stock had a trading volume of 1,506,373 shares, compared to its average volume of 3,073,275. The company has a market cap of $1.11 billion, a PE ratio of -6.72 and a beta of 1.47. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $12.08. The firm's 50-day moving average is $6.49 and its 200-day moving average is $7.97.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Fastly

In other news, CEO Todd Nightingale sold 12,547 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $7.19, for a total transaction of $90,212.93. Following the sale, the chief executive officer now owns 1,904,388 shares in the company, valued at approximately $13,692,549.72. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ronald W. Kisling sold 5,342 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $5.26, for a total transaction of $28,098.92. Following the completion of the sale, the chief financial officer now directly owns 665,693 shares in the company, valued at $3,501,545.18. This trade represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,675 shares of company stock valued at $340,781 in the last quarter. 6.70% of the stock is owned by insiders.

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.