Russell Investments Group Ltd. Purchases 159,842 Shares of Fastly, Inc. $FSLY

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Fastly, Inc. by 371.7% during the first quarter, owning a total of 202,850 shares valued at approximately $1.28 million.
• Several institutional investors, including Nuveen LLC and Invesco Ltd., also expanded their holdings in Fastly during the same period, indicating strong interest in the company's stock.
• Fastly's stock has recently received upgrades from analysts, with current ratings averaging a "Hold" and a consensus price target of $8.69, while the stock currently trades around $7.51.

Russell Investments Group Ltd. increased its holdings in Fastly, Inc. (NYSE:FSLY - Free Report) by 371.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 202,850 shares of the company's stock after buying an additional 159,842 shares during the quarter. Russell Investments Group Ltd. owned about 0.14% of Fastly worth $1,284,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FSLY. Vanguard Group Inc. boosted its position in Fastly by 2.0% in the first quarter. Vanguard Group Inc. now owns 15,590,433 shares of the company's stock worth $98,687,000 after purchasing an additional 300,572 shares during the last quarter. Penserra Capital Management LLC boosted its position in Fastly by 83.1% in the first quarter. Penserra Capital Management LLC now owns 7,177,688 shares of the company's stock worth $45,434,000 after purchasing an additional 3,256,629 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Fastly in the fourth quarter worth about $35,334,000. Dimensional Fund Advisors LP boosted its position in Fastly by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,098,509 shares of the company's stock worth $29,250,000 after purchasing an additional 12,974 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in Fastly by 1.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,104,497 shares of the company's stock worth $19,866,000 after purchasing an additional 33,885 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 26,418 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $6.88, for a total value of $181,755.84. Following the completion of the transaction, the chief technology officer directly owned 3,599,616 shares in the company, valued at $24,765,358.08. This represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Scott R. Lovett sold 127,608 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $6.95, for a total value of $886,875.60. Following the completion of the transaction, the executive owned 1,287,145 shares of the company's stock, valued at $8,945,657.75. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,194 shares of company stock worth $1,410,150 in the last three months. 6.70% of the stock is owned by company insiders.

Fastly Stock Performance

Shares of FSLY stock traded down $0.13 during trading hours on Monday, reaching $7.60. 2,568,206 shares of the company traded hands, compared to its average volume of 3,053,021. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $1.12 billion, a P/E ratio of -7.37 and a beta of 1.24. The firm has a 50-day moving average price of $7.03 and a 200 day moving average price of $6.86.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Fastly had a negative return on equity of 11.98% and a negative net margin of 25.85%.The company had revenue of $148.71 million for the quarter, compared to analysts' expectations of $144.86 million. During the same period in the previous year, the firm earned ($0.07) EPS. The firm's revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Craig Hallum raised Fastly from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a research report on Thursday, August 7th. Morgan Stanley raised their target price on Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Piper Sandler raised their target price on Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. KeyCorp raised Fastly to a "sector weight" rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada raised their target price on Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $8.69.

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.