Caxton Associates LLP Makes New $800,000 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 1st quarter, according to its most recent filing with the SEC. 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 reporting period.

Several other hedge funds have also recently bought and sold shares of FSLY. Banque Transatlantique SA purchased a new position in Fastly in the first quarter valued at approximately $38,000. GAMMA Investing LLC grew its position in 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 acquiring an additional 5,945 shares in the last quarter. AlphaQuest LLC grew its position in Fastly by 192.4% in the first quarter. AlphaQuest LLC now owns 13,771 shares of the company's stock valued at $87,000 after acquiring an additional 9,061 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Fastly in the first quarter valued at approximately $91,000. Finally, Bryce Point Capital LLC acquired a new stake in shares of Fastly during the first quarter worth approximately $99,000. Hedge funds and other institutional investors own 79.71% of the company's stock.

Analyst Upgrades and Downgrades

FSLY has been the subject of a number of recent analyst reports. Craig Hallum raised shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a research report on Thursday, August 7th. KeyCorp raised shares of Fastly to a "sector weight" rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada raised their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Fastly has a consensus rating of "Hold" and a consensus price target of $8.69.

Insider Activity at Fastly

In related news, CTO Artur Bergman sold 20,000 shares of Fastly stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $7.45, for a total transaction of $149,000.00. Following the sale, the chief technology officer directly owned 3,501,276 shares in the company, valued at $26,084,506.20. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott R. Lovett sold 9,076 shares of Fastly stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.88, for a total transaction of $62,442.88. Following the sale, the insider owned 1,344,735 shares in the company, valued at approximately $9,251,776.80. This represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 173,173 shares of company stock valued at $1,257,957 in the last ninety days. Company insiders own 6.70% of the company's stock.

Fastly Stock Performance

FSLY stock traded down $0.23 during mid-day trading on Tuesday, reaching $8.54. The company had a trading volume of 2,084,348 shares, compared to its average volume of 2,865,172. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.26 billion, a P/E ratio of -8.30 and a beta of 1.24. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08. The stock's 50-day simple moving average is $7.18 and its two-hundred day simple moving average is $6.87.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $148.71 million for the quarter, compared to analysts' expectations of $144.86 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The company's revenue was up 12.3% on a year-over-year basis. Research analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

About Fastly

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.