Point72 Asset Management L.P. Purchases New Shares in Fastly, Inc. (NYSE:FSLY)

Point72 Asset Management L.P. purchased a new stake in Fastly, Inc. (NYSE:FSLY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 750,891 shares of the company's stock, valued at approximately $7,088,000. Point72 Asset Management L.P. owned approximately 0.54% of Fastly as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of FSLY. AlphaQuest LLC grew its stake in Fastly by 169.1% during 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 in the last quarter. Rhumbline Advisers grew its stake in Fastly by 1.6% during the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company's stock worth $1,814,000 after buying an additional 3,081 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Fastly by 128.9% during the fourth 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 in the last quarter. Mariner LLC grew its stake in Fastly by 18.0% during the fourth quarter. Mariner LLC now owns 22,868 shares of the company's stock worth $216,000 after buying an additional 3,487 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in Fastly by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 78,889 shares of the company's stock worth $745,000 after buying an additional 4,360 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Stock Down 3.7%

NYSE:FSLY opened at $7.75 on Tuesday. The firm's 50 day simple moving average is $6.33 and its 200 day simple moving average is $7.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08. The company has a market cap of $1.12 billion, a PE ratio of -6.80 and a beta of 1.47.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FSLY. Piper Sandler increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Oppenheimer began coverage on shares of Fastly in a research note on Thursday, March 20th. They set a "market perform" rating on the stock. 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 research note on Thursday, May 8th. Finally, Morgan Stanley raised their price target on shares of Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.28.

About Fastly

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.

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