Point72 Asset Management L.P. Acquires Shares of 750,891 Fastly, Inc. (NYSE:FSLY)

Point72 Asset Management L.P. acquired a new stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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 and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Fastly by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 15,289,861 shares of the company's stock valued at $144,336,000 after purchasing an additional 103,440 shares in the last quarter. Legal & General Group Plc increased its stake in Fastly by 2.4% during the 4th quarter. Legal & General Group Plc now owns 8,025,959 shares of the company's stock valued at $75,765,000 after purchasing an additional 189,667 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Fastly during the 4th quarter valued at about $35,334,000. First Trust Advisors LP increased its stake in Fastly by 4.9% during the 4th quarter. First Trust Advisors LP now owns 3,139,255 shares of the company's stock valued at $29,635,000 after purchasing an additional 147,458 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Fastly by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,098,509 shares of the company's stock valued at $29,250,000 after purchasing an additional 12,974 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FSLY shares. Piper Sandler lifted their price target 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. Royal Bank of Canada lifted their price target 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. Oppenheimer started coverage on shares of Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating for the company. Finally, Morgan Stanley lifted their price target on shares of Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Nine analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $8.28.

Fastly Stock Performance

Shares of FSLY traded down $0.24 on Friday, reaching $7.20. The company's stock had a trading volume of 1,299,913 shares, compared to its average volume of 3,107,569. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a market capitalization of $1.04 billion, a P/E ratio of -6.31 and a beta of 1.47. The stock's 50 day simple moving average is $6.37 and its two-hundred day simple moving average is $7.95. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The company had revenue of $144.47 million for the quarter, compared to the consensus estimate of $138.40 million. Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. The firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. Research analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fastly news, CEO Todd Nightingale sold 8,595 shares of Fastly stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total transaction of $59,047.65. Following the transaction, the chief executive officer now owns 1,544,706 shares of the company's stock, valued at $10,612,130.22. The trade was a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Artur Bergman sold 5,304 shares of Fastly stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total transaction of $36,491.52. Following the transaction, the chief technology officer now directly owns 3,669,058 shares in the company, valued at $25,243,119.04. This represents a 0.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,304 shares of company stock valued at $213,651. 6.70% of the stock is owned by 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.