Fastly, Inc. $FSLY Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its Fastly position by 120% in the first quarter, acquiring 692,459 additional shares to hold 1.27 million shares valued at approximately $36.9 million. Institutional investors collectively own 79.71% of Fastly.
• Fastly reported quarterly revenue of $183.32 million and EPS of $0.15, exceeding analyst expectations of $173.94 million and $0.07, respectively. Despite the earnings beat, the company remains unprofitable, with a negative net margin of 11.80%.
• Analyst sentiment remains mixed: Fastly has a consensus “Hold” rating and an average price target of $25.33, while insiders sold approximately $5.4 million of shares over the past 90 days.

Bank of America Corp DE raised its position in Fastly, Inc. (NASDAQ:FSLY - Free Report) by 120.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,269,369 shares of the company's stock after acquiring an additional 692,459 shares during the quarter. Bank of America Corp DE owned approximately 0.81% of Fastly worth $36,888,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Fastly by 84.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company's stock worth $40,000 after buying an additional 633 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Fastly in the fourth quarter valued at approximately $41,000. Align Financial LLC purchased a new stake in shares of Fastly in the fourth quarter worth about $41,000. Sound Income Strategies LLC purchased a new stake in Fastly during the 1st quarter worth $44,000. Finally, Quarry LP acquired a new stake in Fastly in the third quarter valued at $49,000. Hedge funds and other institutional investors own 79.71% of the company's stock.

Fastly Trading Down 0.3%

NASDAQ:FSLY opened at $29.93 on Friday. The firm has a fifty day simple moving average of $20.56 and a two-hundred day simple moving average of $20.71. Fastly, Inc. has a 12 month low of $6.84 and a 12 month high of $34.82. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -56.47 and a beta of 0.34.

Fastly (NASDAQ:FSLY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.08. Fastly had a negative return on equity of 6.31% and a negative net margin of 11.80%.The firm 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. Analysts expect that Fastly, Inc. will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at Fastly

In related news, CTO Artur Bergman sold 7,889 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $20.96, for a total transaction of $165,353.44. Following the sale, the chief technology officer directly owned 2,038,638 shares in the company, valued at approximately $42,729,852.48. This represents a 0.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard Devon Daniels sold 11,080 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $22.90, for a total transaction of $253,732.00. Following the completion of the transaction, the director owned 51,197 shares of the company's stock, valued at $1,172,411.30. This trade represents a 17.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 300,477 shares of company stock valued at $5,387,212. Insiders own 4.20% of the company's stock.

Analyst Ratings Changes

FSLY has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective on shares of Fastly from $22.00 to $28.00 and gave the stock a "sector perform" rating in a report on Thursday, August 6th. KeyCorp boosted their price target on Fastly from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Freedom Capital upgraded shares of Fastly to a "strong-buy" rating in a report on Thursday, July 16th. Piper Sandler upped their target price on Fastly from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Canaccord Genuity Group began coverage on shares of Fastly in a research report on Friday, July 17th. They set a "buy" rating and a $27.00 target price for the company. One 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 issued a Sell rating to the company. According to MarketBeat.com, Fastly 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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