MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $4.34 Million Stake in Fastly, Inc. (NYSE:FSLY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 30.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 459,795 shares of the company's stock after selling 201,675 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.33% of Fastly worth $4,340,000 at the end of the most recent reporting period.

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

Fastly Stock Down 3.3%

NYSE:FSLY traded down $0.24 during trading hours on Friday, hitting $7.20. 1,299,913 shares of the stock traded hands, compared to its average volume of 3,107,569. The firm has a 50 day moving average price of $6.37 and a 200 day moving average price of $7.96. 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 fifty-two week low of $4.65 and a fifty-two week high of $12.08. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -6.31 and a beta of 1.47.

Fastly (NYSE:FSLY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. The company had revenue of $144.47 million for the quarter, compared to the consensus estimate of $138.40 million. During the same period in the previous year, the business earned ($0.05) EPS. The company's revenue was up 8.2% on a year-over-year basis. Equities research analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FSLY shares. Oppenheimer initiated coverage on Fastly in a research report on Thursday, March 20th. They issued a "market perform" rating for the company. 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 report on Thursday, May 8th. Piper Sandler increased their price objective on Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Royal Bank of Canada increased their price objective on Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Nine research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.28.

Insider Buying and Selling at Fastly

In other news, CEO Todd Nightingale sold 8,595 shares of the company's stock in a transaction on 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 directly owns 1,544,706 shares of the company's stock, valued at approximately $10,612,130.22. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Artur Bergman sold 5,304 shares of the company's stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,304 shares of company stock valued at $213,651 in the last three months. 6.70% of the stock is currently owned by company insiders.

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.