Lane Generational LLC Buys 51,852 Shares of Fastly, Inc. (NYSE:FSLY)

Lane Generational LLC boosted its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 322,501 shares of the company's stock after buying an additional 51,852 shares during the quarter. Fastly makes up approximately 2.2% of Lane Generational LLC's portfolio, making the stock its 20th largest holding. Lane Generational LLC owned about 0.22% of Fastly worth $2,041,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Fastly by 451.7% in the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock worth $46,000 after buying an additional 5,945 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Fastly in the fourth quarter worth $82,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Fastly in the fourth quarter worth $83,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fastly in the fourth quarter worth $105,000. Finally, Cibc World Markets Corp purchased a new stake in Fastly in the fourth quarter worth $115,000. Institutional investors own 79.71% of the company's stock.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 12,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $7.41, for a total transaction of $88,920.00. Following the sale, the chief financial officer owned 635,053 shares of the company's stock, valued at approximately $4,705,742.73. This represents a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Todd Nightingale sold 12,547 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $7.19, for a total transaction of $90,212.93. Following the sale, the chief executive officer directly owned 1,904,388 shares in the company, valued at $13,692,549.72. This trade represents a 0.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,124 shares of company stock valued at $1,138,628. Company insiders own 6.70% of the company's stock.

Analyst Ratings Changes

FSLY has been the subject of a number of recent research reports. KeyCorp raised Fastly to a "sector weight" rating in a research report on Thursday, June 5th. Royal Bank Of Canada raised their price objective on shares of Fastly from $5.00 to $6.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Morgan Stanley raised their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Finally, Piper Sandler raised their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $8.28.

Fastly Price Performance

Shares of Fastly stock traded down $0.08 on Friday, reaching $7.15. The stock had a trading volume of 2,034,783 shares, compared to its average volume of 2,052,151. The business's 50 day moving average is $7.21 and its two-hundred day moving average is $7.36. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.03 billion, a P/E ratio of -6.56 and a beta of 1.23. Fastly, Inc. has a 1 year low of $4.65 and a 1 year high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The business had revenue of $144.47 million for the quarter, compared to analyst estimates of $138.40 million. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. Fastly's revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, research analysts anticipate that Fastly, Inc. will post -0.78 EPS 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.