Penserra Capital Management LLC Boosts Position in Fastly, Inc. (NYSE:FSLY)

Penserra Capital Management LLC boosted its holdings in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 83.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,177,688 shares of the company's stock after acquiring an additional 3,256,629 shares during the period. Penserra Capital Management LLC owned 4.96% of Fastly worth $45,434,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AlphaQuest LLC raised its holdings 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 buying an additional 2,960 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 last quarter. Jones Financial Companies Lllp raised its holdings in shares of Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after purchasing an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Fastly during the fourth quarter valued at approximately $72,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Fastly during the fourth quarter valued at approximately $82,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSLY has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Piper Sandler boosted their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Royal Bank Of Canada boosted their target price on shares of Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Oppenheimer started coverage on shares of Fastly in a research report on Thursday, March 20th. They set a "market perform" rating for the company. Finally, KeyCorp upgraded shares of Fastly to a "sector weight" rating in a research report on Thursday, June 5th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Fastly currently has an average rating of "Hold" and an average target price of $8.28.

Insider Activity at Fastly

In other news, CFO Ronald W. Kisling sold 12,000 shares of the 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 sale, the chief financial officer owned 635,053 shares of the company's stock, valued at approximately $4,705,742.73. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Nightingale sold 12,547 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $7.19, for a total transaction of $90,212.93. Following the completion of the sale, the chief executive officer directly owned 1,904,388 shares in the company, valued at approximately $13,692,549.72. This represents a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,283 shares of company stock valued at $1,151,817 over the last 90 days. 6.70% of the stock is owned by corporate insiders.

Fastly Price Performance

Shares of FSLY traded up $0.25 during mid-day trading on Tuesday, reaching $7.30. The stock had a trading volume of 1,175,968 shares, compared to its average volume of 3,096,787. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -6.70 and a beta of 1.23. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $12.08. The business has a fifty day moving average of $7.18 and a 200 day moving average of $7.60. 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 released its earnings results on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The firm had revenue of $144.47 million for the quarter, compared to the consensus estimate of $138.40 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The company's quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that Fastly, Inc. will post -0.78 EPS for the current 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.