Caxton Associates LLP Makes New Investment in Fastly, Inc. $FSLY

Key Points

• Caxton Associates LLP acquired 126,435 shares of Fastly, Inc., valued at approximately $800,000, during the first quarter of 2023, representing a 0.09% ownership in the company.
• Recent analyst ratings have upgraded Fastly from "hold" to "buy" with a new target price of $10.00, while the consensus target price stands at $8.69.
• Insiders sold a total of 300,781 shares of Fastly stock over the last three months, reflecting a decrease in their ownership stake, currently at 6.70%.

Caxton Associates LLP acquired a new position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 126,435 shares of the company's stock, valued at approximately $800,000. Caxton Associates LLP owned 0.09% of Fastly at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Banque Transatlantique SA acquired a new position in shares of Fastly during the first quarter worth about $38,000. GAMMA Investing LLC grew its holdings in Fastly by 451.7% during the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock worth $46,000 after acquiring an additional 5,945 shares in the last quarter. AlphaQuest LLC increased its position in shares of Fastly by 192.4% in the 1st quarter. AlphaQuest LLC now owns 13,771 shares of the company's stock valued at $87,000 after purchasing an additional 9,061 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Fastly in the 1st quarter valued at $91,000. Finally, Bryce Point Capital LLC purchased a new stake in shares of Fastly during the 1st quarter worth $99,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Stock Performance

NYSE FSLY traded down $0.17 during trading on Friday, reaching $7.73. The company's stock had a trading volume of 1,700,293 shares, compared to its average volume of 2,251,789. The business's fifty day moving average price is $7.15 and its 200-day moving average price is $6.86. Fastly, Inc. has a twelve month low of $4.65 and a twelve month high of $12.08. 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 firm has a market cap of $1.14 billion, a price-to-earnings ratio of -7.50 and a beta of 1.24.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $144.86 million. During the same period in the prior year, the business earned ($0.07) EPS. The firm's revenue was up 12.3% compared to the same quarter last year. As a group, analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Insider Activity

In other Fastly news, Director Richard Devon Daniels sold 18,248 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $7.61, for a total value of $138,867.28. Following the transaction, the director directly owned 67,652 shares of the company's stock, valued at approximately $514,831.72. The trade was a 21.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Scott R. Lovett sold 127,608 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $6.95, for a total transaction of $886,875.60. Following the completion of the sale, the executive owned 1,287,145 shares of the company's stock, valued at $8,945,657.75. This trade represents a 9.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,781 shares of company stock valued at $2,144,833. Corporate insiders own 6.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Craig Hallum upgraded shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 price objective for the company in a research report on Thursday, August 7th. Finally, KeyCorp raised shares of Fastly to a "sector weight" rating in a research report on Thursday, June 5th. 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, Fastly currently has a consensus rating of "Hold" and a consensus price target of $8.69.

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.