MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 201,675 Shares of Fastly, Inc. (NYSE:FSLY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 30.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 459,795 shares of the company's stock after selling 201,675 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.33% of Fastly worth $4,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AlphaQuest LLC raised its holdings in 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 buying an additional 2,960 shares during the period. Jones Financial Companies Lllp raised its holdings in 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 buying an additional 3,221 shares during the period. Wealthfront Advisers LLC purchased a new stake in Fastly during the 4th quarter valued at $72,000. Canada Pension Plan Investment Board purchased a new stake in Fastly during the 4th quarter valued at $82,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Fastly during the 4th quarter valued at $83,000. Hedge funds and other institutional investors own 79.71% of the company's stock.

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 5,342 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total transaction of $28,098.92. Following the sale, the chief financial officer now owns 665,693 shares of the company's stock, valued at $3,501,545.18. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Nightingale sold 35,509 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total value of $285,492.36. Following the sale, the chief executive officer now directly owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. The trade was a 2.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,903 shares of company stock valued at $692,827. 6.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several recent research reports. Oppenheimer began coverage on Fastly in a report on Thursday, March 20th. They set a "market perform" rating on the stock. Piper Sandler increased 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. Morgan Stanley increased their target price on Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada increased 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. Nine investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $8.28.

Fastly Price Performance

FSLY opened at $8.07 on Monday. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The business's fifty day simple moving average is $6.31 and its 200-day simple moving average is $7.96. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -7.07 and a beta of 1.47.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings results 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. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. The business had revenue of $144.47 million for the quarter, compared to the consensus estimate of $138.40 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The business's revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Fastly, Inc. will post -0.78 earnings per share 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.

Want to see what other hedge funds are holding FSLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fastly, Inc. (NYSE:FSLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.