Assenagon Asset Management S.A. Takes $774,000 Position in Fastly, Inc. $FSLY

Key Points

• Assenagon Asset Management initiated a Fastly position worth approximately $774,000 by purchasing 42,149 shares in the second quarter. Institutional investors collectively own 79.71% of Fastly.
• Fastly exceeded quarterly expectations, reporting $0.15 in EPS versus the $0.07 consensus and revenue of $183.32 million against estimates of $173.94 million. However, the company remains unprofitable, with a negative net margin of 11.80%.
• Analyst sentiment is mixed: Fastly has a consensus “Hold” rating and an average price target of $25.33, while insiders sold 300,477 shares worth $5.39 million over the past 90 days.

Assenagon Asset Management S.A. bought a new stake in Fastly, Inc. (NASDAQ:FSLY - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 42,149 shares of the company's stock, valued at approximately $774,000.

Several other hedge funds have also made changes to their positions in FSLY. EverSource Wealth Advisors LLC raised its stake in shares of Fastly by 39.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company's stock worth $64,000 after purchasing an additional 627 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company's stock valued at $40,000 after buying an additional 633 shares during the period. Kestra Advisory Services LLC increased its stake in Fastly by 8.4% in the 4th quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company's stock valued at $122,000 after buying an additional 930 shares during the period. Parallax Volatility Advisers L.P. raised its position in Fastly by 13.8% during the 3rd quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company's stock worth $103,000 after buying an additional 1,465 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new position in Fastly during the 1st quarter worth $44,000. Institutional investors and hedge funds own 79.71% of the company's stock.

Insider Buying and Selling

In other news, insider Scott R. Lovett sold 41,716 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.77, for a total transaction of $741,293.32. Following the sale, the insider owned 1,392,778 shares in the company, valued at $24,749,665.06. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Lacey Compton III sold 34,334 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $16.85, for a total value of $578,527.90. Following the sale, the chief executive officer owned 1,099,561 shares in the company, valued at $18,527,602.85. This trade represents a 3.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 300,477 shares of company stock worth $5,387,212 in the last ninety days. Insiders own 4.20% of the company's stock.

Fastly Price Performance

Fastly stock opened at $29.93 on Friday. The firm has a market capitalization of $4.77 billion, a PE ratio of -56.47 and a beta of 0.34. Fastly, Inc. has a 52 week low of $6.84 and a 52 week high of $34.82. The firm's 50-day simple moving average is $20.56 and its 200 day simple moving average is $20.71. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.33.

Fastly (NASDAQ:FSLY - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.08. Fastly had a negative net margin of 11.80% and a negative return on equity of 6.31%. The company had revenue of $183.32 million during the quarter, compared to analysts' expectations of $173.94 million. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. On average, equities research analysts predict that Fastly, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FSLY. Evercore reiterated an "outperform" rating on shares of Fastly in a research note on Thursday, August 6th. Freedom Capital upgraded shares of Fastly to a "strong-buy" rating in a research report on Thursday, July 16th. KeyCorp lifted their price objective on Fastly from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Raymond James Financial reiterated an "outperform" rating and set a $29.00 target price on shares of Fastly in a research report on Thursday, August 6th. Finally, Piper Sandler increased their target price on Fastly from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $25.33.

Fastly Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.

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