Voloridge Investment Management LLC Purchases 33,885 Shares of Fastly, Inc. (NYSE:FSLY)

Voloridge Investment Management LLC raised its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,104,497 shares of the company's stock after buying an additional 33,885 shares during the quarter. Voloridge Investment Management LLC owned about 1.50% of Fastly worth $19,866,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AlphaQuest LLC lifted its holdings in shares of Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock valued at $44,000 after purchasing an additional 2,960 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after purchasing an additional 3,221 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Fastly during the 4th quarter valued at about $72,000. Canada Pension Plan Investment Board bought a new stake in Fastly in the 4th quarter valued at approximately $82,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Fastly in the 4th quarter valued at approximately $83,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Fastly news, CTO Artur Bergman sold 5,304 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.88, for a total value of $36,491.52. Following the completion of the sale, the chief technology officer now owns 3,669,058 shares in the company, valued at approximately $25,243,119.04. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $6.32, for a total value of $75,840.00. Following the completion of the sale, the chief financial officer now owns 671,035 shares of the company's stock, valued at approximately $4,240,941.20. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,646 shares of company stock worth $140,430. 6.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on FSLY. Morgan Stanley boosted their target price on Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Oppenheimer began coverage on Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating on the stock. Piper Sandler boosted their target price on Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada boosted their target price on Fastly from $5.00 to $6.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Nine analysts have rated the stock with a hold rating, Based on data from MarketBeat, Fastly currently has an average rating of "Hold" and a consensus price target of $8.28.

Fastly Trading Down 0.3%

FSLY stock traded down $0.03 during mid-day trading on Wednesday, reaching $7.36. The company's stock had a trading volume of 493,189 shares, compared to its average volume of 3,092,678. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -6.46 and a beta of 1.47. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $12.08. The business's 50 day moving average price is $6.38 and its 200 day moving average price is $7.95.

Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The company had revenue of $144.47 million for the quarter, compared to analyst estimates of $138.40 million. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities research analysts predict 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.