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

Penserra Capital Management LLC lifted its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 83.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 approximately 4.96% of Fastly worth $45,434,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. AlphaQuest LLC lifted its stake in shares of Fastly by 169.1% during the 4th 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 lifted its stake in shares of Fastly by 451.7% during the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock worth $46,000 after buying an additional 5,945 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock worth $54,000 after buying an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Fastly during the 4th quarter worth about $72,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Fastly during the 4th quarter worth about $82,000. Institutional investors own 79.71% of the company's stock.

Insiders Place Their Bets

In other news, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 635,053 shares in the company, valued at $4,705,742.73. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Nightingale sold 12,547 shares of the stock in a transaction dated 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 owned 1,904,388 shares of the company's stock, 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. Over the last 90 days, insiders have sold 165,283 shares of company stock worth $1,151,817. Insiders own 6.70% of the company's stock.

Fastly Stock Down 2.9%

NYSE FSLY traded down $0.21 on Wednesday, hitting $7.10. 1,742,387 shares of the company were exchanged, compared to its average volume of 3,102,388. The company has a market cap of $1.03 billion, a PE ratio of -6.51 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 stock has a fifty day moving average of $7.20 and a 200-day moving average of $7.60. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.16.

Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share 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 prior year, the company posted ($0.05) earnings per share. The business's revenue was up 8.2% on a year-over-year basis. As a group, analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Oppenheimer began coverage on shares of Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating for the company. Piper Sandler lifted their price target 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 lifted their price target on shares of Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Morgan Stanley lifted their price target 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. Finally, KeyCorp upgraded shares of Fastly to a "sector weight" rating in a research report on Thursday, June 5th. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $8.28.

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.