Capital Fund Management S.A. Trims Position in Fastly, Inc. $FSLY

Key Points

• Capital Fund Management S.A. has reduced its stake in Fastly, Inc. by 76.5%, selling 188,335 shares and holding 57,929 shares valued at approximately $367,000.
• Analysts have raised their price targets for Fastly, with Morgan Stanley increasing its target from $7.00 to $8.00 and Craig Hallum upgrading the stock to a "buy" rating with a target of $10.00.
• Fastly reported a revenue increase of 12.3% year-over-year, with recent earnings outperforming forecasts at ($0.03) EPS against a consensus of ($0.05).

Capital Fund Management S.A. lessened its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 76.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,929 shares of the company's stock after selling 188,335 shares during the quarter. Capital Fund Management S.A.'s holdings in Fastly were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mariner LLC increased its holdings in Fastly by 18.0% during the 4th quarter. Mariner LLC now owns 22,868 shares of the company's stock worth $216,000 after acquiring an additional 3,487 shares during the period. Dimensional Fund Advisors LP increased its holdings in Fastly by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,098,509 shares of the company's stock worth $29,250,000 after acquiring an additional 12,974 shares during the period. MetLife Investment Management LLC increased its holdings in Fastly by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 78,889 shares of the company's stock worth $745,000 after acquiring an additional 4,360 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Fastly by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 621,698 shares of the company's stock worth $5,870,000 after acquiring an additional 21,832 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Fastly during the 4th quarter worth approximately $2,448,000. Hedge funds and other institutional investors own 79.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FSLY shares. Morgan Stanley upped their target price on shares of Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Piper Sandler raised their price target on Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Royal Bank Of Canada raised their price target on Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. KeyCorp raised Fastly to a "sector weight" rating in a report on Thursday, June 5th. Finally, Craig Hallum raised Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Fastly has a consensus rating of "Hold" and an average price target of $8.69.

Fastly Price Performance

FSLY opened at $7.28 on Wednesday. The stock has a 50-day moving average price of $6.98 and a 200-day moving average price of $6.92. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.07 billion, a P/E ratio of -7.06 and a beta of 1.19.

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

Insider Transactions at Fastly

In other news, CEO Charles Lacey Compton III sold 15,335 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.88, for a total value of $105,504.80. Following the completion of the transaction, the chief executive officer directly owned 673,645 shares in the company, valued at approximately $4,634,677.60. This represents a 2.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 12,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $7.41, for a total value of $88,920.00. Following the completion of the transaction, the chief financial officer owned 635,053 shares of the company's stock, valued at $4,705,742.73. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,345 shares of company stock valued at $1,492,872 over the last quarter. 6.70% of the stock is owned by company 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.

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