Oppenheimer & Co. Inc. Has $523,000 Holdings in Fastly, Inc. (NYSE:FSLY)

Oppenheimer & Co. Inc. raised its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 423.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,628 shares of the company's stock after purchasing an additional 66,828 shares during the quarter. Oppenheimer & Co. Inc. owned 0.06% of Fastly worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. AlphaQuest LLC lifted 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 purchasing an additional 2,960 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Fastly by 1.6% in the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company's stock valued at $1,814,000 after acquiring an additional 3,081 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after acquiring an additional 3,221 shares during the last quarter. Mariner LLC boosted its holdings in shares of Fastly by 18.0% in the 4th quarter. Mariner LLC now owns 22,868 shares of the company's stock worth $216,000 after acquiring an additional 3,487 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Fastly by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 78,889 shares of the company's stock worth $745,000 after acquiring an additional 4,360 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

Insider Activity at Fastly

In other news, CFO Ronald W. Kisling sold 12,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $7.41, for a total value of $88,920.00. Following the completion of the transaction, the chief financial officer owned 635,053 shares of the company's stock, valued at $4,705,742.73. The trade was a 1.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Nightingale sold 12,547 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.19, for a total value of $90,212.93. Following the sale, the chief executive officer directly owned 1,904,388 shares in the company, valued at $13,692,549.72. The trade was a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,283 shares of company stock worth $1,151,817 in the last ninety days. Company insiders own 6.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FSLY shares. Morgan Stanley lifted 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. Royal Bank Of Canada increased their price objective on shares of Fastly from $5.00 to $6.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Oppenheimer began coverage on shares of Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating for the company. KeyCorp raised shares of Fastly to a "sector weight" rating in a research note on Thursday, June 5th. Finally, Piper Sandler boosted their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.28.

Fastly Trading Up 1.5%

FSLY traded up $0.11 during trading on Friday, reaching $7.03. 1,303,911 shares of the company's stock were exchanged, compared to its average volume of 3,108,935. The company's fifty day moving average price is $7.15 and its 200-day moving average price is $7.66. The firm has a market capitalization of $1.02 billion, a PE ratio of -6.44 and a beta of 1.23. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.50 and a current ratio of 1.50.

Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. Fastly had a negative return on equity of 12.29% and a negative net margin of 27.73%. The business had revenue of $144.47 million during the quarter, compared to analysts' expectations of $138.40 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts forecast 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.