Fastly, Inc. $FSLY Shares Sold by Parallax Volatility Advisers L.P.

Key Points

• Parallax Volatility Advisers L.P. reduced its holdings in Fastly, Inc. by 86.9%, resulting in ownership of only 21,892 shares after selling 145,242 shares during the first quarter.
• Several large investors have made moves in Fastly stock, with notable increases, including GAMMA Investing LLC boosting its holdings by 451.7% and AlphaQuest LLC increasing its stake by 192.4% in the first quarter.
• Fastly's stock has received mixed analyst ratings, maintaining an average of "Hold" with a consensus price target of $8.69, despite being upgraded to "buy" with a $10.00 target by Craig Hallum.

Parallax Volatility Advisers L.P. decreased its position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 86.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,892 shares of the company's stock after selling 145,242 shares during the period. Parallax Volatility Advisers L.P.'s holdings in Fastly were worth $139,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Vident Advisory LLC increased its position in Fastly by 4.4% during the first quarter. Vident Advisory LLC now owns 34,316 shares of the company's stock worth $217,000 after buying an additional 1,438 shares during the period. Hsbc Holdings PLC increased its position in Fastly by 6.1% during the first quarter. Hsbc Holdings PLC now owns 27,938 shares of the company's stock worth $175,000 after buying an additional 1,612 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Fastly by 12.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,852 shares of the company's stock worth $113,000 after buying an additional 1,975 shares during the period. Federated Hermes Inc. increased its position in Fastly by 0.9% during the first quarter. Federated Hermes Inc. now owns 211,638 shares of the company's stock worth $1,340,000 after buying an additional 1,988 shares during the period. Finally, Amundi increased its position in Fastly by 11.3% during the first quarter. Amundi now owns 46,624 shares of the company's stock worth $277,000 after buying an additional 4,724 shares during the period. Institutional investors and hedge funds own 79.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FSLY shares. Craig Hallum raised Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada lifted their target price on Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, KeyCorp upgraded Fastly to a "sector weight" rating in a research note on Thursday, June 5th. One analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Fastly currently has an average rating of "Hold" and an average target price of $8.69.

Insider Buying and Selling

In other news, CEO Charles Lacey Compton III sold 15,335 shares of the business's stock in a transaction on 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 of the company's stock, valued at $4,634,677.60. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Scott R. Lovett sold 127,608 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $6.95, for a total value of $886,875.60. Following the completion of the transaction, the executive directly owned 1,287,145 shares of the company's stock, valued at approximately $8,945,657.75. This trade represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 300,781 shares of company stock valued at $2,144,833. 6.70% of the stock is owned by insiders.

Fastly Price Performance

NYSE FSLY traded down $0.17 during trading hours 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 stock has a market cap of $1.14 billion, a PE ratio of -7.50 and a beta of 1.24. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08. The company's 50-day moving average is $7.15 and its two-hundred day moving average is $6.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 1.49.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) EPS 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 firm had revenue of $148.71 million for the quarter, compared to analysts' expectations of $144.86 million. During the same period in the prior year, the company earned ($0.07) EPS. The firm's revenue was up 12.3% on a year-over-year basis. Analysts forecast 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.