BNP Paribas Financial Markets Decreases Stake in Fastly, Inc. (NYSE:FSLY)

BNP Paribas Financial Markets decreased its holdings in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 51.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,437 shares of the company's stock after selling 123,315 shares during the period. BNP Paribas Financial Markets owned about 0.08% of Fastly worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Alyeska Investment Group L.P. acquired a new position in Fastly in the 4th quarter valued at $35,334,000. Marshall Wace LLP acquired a new position in Fastly in the 4th quarter valued at $7,618,000. Alliancebernstein L.P. raised its stake in Fastly by 402.8% in the 4th quarter. Alliancebernstein L.P. now owns 844,349 shares of the company's stock valued at $7,971,000 after purchasing an additional 676,408 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Fastly in the 4th quarter valued at $3,717,000. Finally, Northern Trust Corp raised its stake in Fastly by 28.3% in the 4th quarter. Northern Trust Corp now owns 1,577,729 shares of the company's stock valued at $14,894,000 after purchasing an additional 348,451 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company's stock.

Insider Buying and Selling

In related news, CTO Artur Bergman sold 5,304 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.88, for a total transaction of $36,491.52. Following the completion of the transaction, the chief technology officer now directly owns 3,669,058 shares in the company, valued at $25,243,119.04. This trade represents a 0.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Nightingale sold 8,595 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total value of $59,047.65. Following the transaction, the chief executive officer now owns 1,544,706 shares of the company's stock, valued at $10,612,130.22. This trade represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,304 shares of company stock valued at $213,651. 6.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on FSLY shares. Morgan Stanley increased their price objective on Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Piper Sandler raised their target price on Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Royal Bank of Canada raised their target price on Fastly from $5.00 to $6.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 8th. Finally, Oppenheimer assumed coverage on Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating for the company. Nine research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $8.28.

Fastly Trading Down 3.3%

Shares of NYSE:FSLY traded down $0.24 during midday trading on Monday, reaching $7.20. 1,299,913 shares of the company's stock were exchanged, compared to its average volume of 3,107,569. The firm's 50 day simple moving average is $6.37 and its two-hundred day simple moving average is $7.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -6.31 and a beta of 1.47. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The firm had revenue of $144.47 million during the quarter, compared to the consensus estimate of $138.40 million. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned ($0.05) EPS. As a group, sell-side analysts forecast that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

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.