Northern Trust Corp Has $9.68 Million Stock 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 reduced its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FSLY. Bridgefront Capital LLC bought a new position in Fastly during the fourth quarter valued at about $143,000. Deutsche Bank AG raised its holdings in Fastly by 16.6% during the fourth quarter. Deutsche Bank AG now owns 255,409 shares of the company's stock valued at $2,411,000 after buying an additional 36,333 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in Fastly by 11.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 66,208 shares of the company's stock valued at $625,000 after buying an additional 6,950 shares in the last quarter. Man Group plc raised its holdings in Fastly by 104.7% during the fourth quarter. Man Group plc now owns 27,948 shares of the company's stock valued at $264,000 after buying an additional 14,292 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in Fastly by 48.3% during the fourth quarter. ProShare Advisors LLC now owns 38,198 shares of the company's stock valued at $361,000 after buying an additional 12,449 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Insider Transactions at Fastly

In related news, CEO Charles Lacey Compton III sold 15,335 shares of Fastly stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.88, for a total transaction of $105,504.80. Following the sale, the chief executive officer directly owned 673,645 shares of the company's stock, valued at $4,634,677.60. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Artur Bergman sold 20,000 shares of Fastly stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $7.45, for a total value of $149,000.00. Following the sale, the chief technology officer directly owned 3,501,276 shares in the company, valued at approximately $26,084,506.20. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 300,781 shares of company stock valued at $2,144,833 in the last ninety days. 6.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on FSLY shares. Royal Bank Of Canada raised their target price 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 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. Finally, KeyCorp raised Fastly to a "sector weight" rating in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Fastly presently has a consensus rating of "Hold" and a consensus target price of $8.69.

Fastly Stock Performance

Shares of NYSE:FSLY traded up $0.53 during midday trading on Thursday, hitting $7.89. The company's stock had a trading volume of 2,541,657 shares, compared to its average volume of 2,220,879. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -7.66 and a beta of 1.24. The stock's 50 day simple moving average is $7.13 and its 200 day simple moving average is $6.85. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week 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.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (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 company had revenue of $148.71 million for the quarter, compared to the consensus estimate of $144.86 million. During the same period last year, the business posted ($0.07) earnings per share. The firm's revenue was up 12.3% compared to the same quarter last year. As a group, research analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current year.

Fastly Company 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.