Northern Trust Corp Decreases Position in Fastly, Inc. $FSLY

Key Points

• Northern Trust Corp has reduced its holdings in Fastly, Inc. by 3.1%, owning 1.06% of the company, valued at approximately $9.68 million.
• Insider trading activity includes CTO Artur Bergman selling 58,138 shares, while Director Richard Devon Daniels sold 18,248 shares, with insiders overall selling about 280,781 shares in total over the last 90 days.
• Fastly's stock has a current market cap of $1.09 billion, with one-year price fluctuations between $4.65 and $12.08, and has recently reported earnings exceeding analysts' expectations.

Northern Trust Corp lessened its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,528,605 shares of the company's stock after selling 49,124 shares during the period. Northern Trust Corp owned 1.06% of Fastly worth $9,676,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 5,945 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fastly during the 4th quarter worth about $105,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Fastly during the 1st quarter worth about $91,000. Bryce Point Capital LLC acquired a new position in shares of Fastly during the 1st quarter worth about $99,000. Finally, Bridgefront Capital LLC acquired a new position in shares of Fastly during the 4th quarter worth about $143,000. Institutional investors and hedge funds own 79.71% of the company's stock.

Fastly Trading Down 3.9%

Shares of NYSE FSLY traded down $0.30 during midday trading on Wednesday, reaching $7.36. 1,276,972 shares of the stock were exchanged, compared to its average volume of 2,833,302. The company has a 50 day simple moving average of $7.11 and a 200 day simple moving average of $6.84. The stock has a market capitalization of $1.08 billion, a P/E ratio of -7.14 and a beta of 1.24. 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, Inc. has a twelve month low of $4.65 and a twelve month high of $12.08.

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

Insider Activity at Fastly

In related news, CTO Artur Bergman sold 58,138 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $7.41, for a total transaction of $430,802.58. Following the completion of the transaction, the chief technology officer owned 3,521,276 shares of the company's stock, valued at approximately $26,092,655.16. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Lacey Compton III sold 15,335 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.88, for a total transaction 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. This represents a 2.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,781 shares of company stock worth $1,995,833. Company insiders own 6.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FSLY shares. Craig Hallum upgraded 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. Royal Bank Of Canada increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Finally, KeyCorp upgraded shares of Fastly to a "sector weight" rating in a report on Thursday, June 5th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Fastly presently 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.