Fastly, Inc. $FSLY Stake Lifted by Invesco Ltd.

Invesco Ltd. grew its position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 37.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,192 shares of the company's stock after purchasing an additional 60,524 shares during the period. Invesco Ltd. owned approximately 0.15% of Fastly worth $1,419,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Fastly by 451.7% during the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after purchasing an additional 5,945 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Fastly in the 1st quarter valued at approximately $91,000. Bryce Point Capital LLC acquired a new position in shares of Fastly in the 1st quarter valued at approximately $99,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fastly in the 4th quarter valued at approximately $105,000. Finally, CWM LLC raised its position in shares of Fastly by 37.9% in the 1st quarter. CWM LLC now owns 17,371 shares of the company's stock valued at $110,000 after purchasing an additional 4,777 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FSLY. KeyCorp upgraded shares of Fastly to a "sector weight" rating in a research note on Thursday, June 5th. 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 note on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $8.69.

Fastly Stock Performance

FSLY traded up $0.13 during trading hours on Friday, hitting $7.43. 2,161,395 shares of the stock were exchanged, compared to its average volume of 2,418,919. The stock has a 50-day simple moving average of $7.08 and a 200-day simple moving average of $6.84. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $12.08. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -7.21 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49.

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

Insider Transactions at Fastly

In related news, CEO Charles Lacey Compton III sold 15,335 shares of the company's stock in a transaction on Monday, August 18th. The stock was 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 in the company, valued at $4,634,677.60. This represents a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Devon Daniels sold 18,248 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $7.61, for a total value of $138,867.28. Following the transaction, the director owned 67,652 shares of the company's stock, valued at approximately $514,831.72. The trade was a 21.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 280,781 shares of company stock valued at $1,995,833. Company insiders own 6.70% of the company's stock.

About Fastly

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.