Tudor Investment Corp ET AL Sells 94,752 Shares of Fastly, Inc. $FSLY

Key Points

• Tudor Investment Corp. cut its Fastly stake by 85.9% in Q3, selling 94,752 shares and retaining 15,595 shares worth about $133,000.
• Company insiders executed large sales—CEO Charles Lacey Compton III sold 73,206 shares and CTO Artur Bergman sold 275,234 shares—and insiders sold a total of 1,469,658 shares worth about $28.67M in the last quarter (insiders now own 6.70%).
• Fastly stock opened at $24.56 with a 52-week range of $5.13–$34.82, and analysts' consensus is a "Hold" with a consensus price target of $16.25.

Tudor Investment Corp ET AL lessened its stake in Fastly, Inc. (NYSE:FSLY - Free Report) by 85.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,595 shares of the company's stock after selling 94,752 shares during the period. Tudor Investment Corp ET AL's holdings in Fastly were worth $133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FSLY. Amundi raised its position in Fastly by 11.3% during the 1st quarter. Amundi now owns 46,624 shares of the company's stock valued at $277,000 after purchasing an additional 4,724 shares during the last quarter. AQR Capital Management LLC bought a new position in Fastly during the 1st quarter valued at approximately $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Fastly by 1.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company's stock valued at $2,950,000 after purchasing an additional 6,247 shares during the last quarter. Jones Financial Companies Lllp raised its position in Fastly by 963.6% during the 1st quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company's stock valued at $385,000 after purchasing an additional 55,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Fastly by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company's stock valued at $14,573,000 after purchasing an additional 165,937 shares during the last quarter. Institutional investors own 79.71% of the company's stock.

Insiders Place Their Bets

In other Fastly news, CEO Charles Lacey Compton III sold 73,206 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $20.94, for a total transaction of $1,532,933.64. Following the transaction, the chief executive officer owned 875,831 shares in the company, valued at approximately $18,339,901.14. This represents a 7.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Artur Bergman sold 275,234 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $20.56, for a total value of $5,658,811.04. Following the transaction, the chief technology officer owned 1,909,901 shares in the company, valued at $39,267,564.56. This trade represents a 12.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,469,658 shares of company stock worth $28,669,526. Company insiders own 6.70% of the company's stock.

Fastly Stock Down 1.3%

FSLY stock opened at $24.56 on Friday. Fastly, Inc. has a fifty-two week low of $5.13 and a fifty-two week high of $34.82. The business's 50 day moving average price is $23.03 and its two-hundred day moving average price is $14.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -25.58 and a beta of 0.62.

Analysts Set New Price Targets

A number of research analysts have commented on the company. DA Davidson set a $13.00 price target on Fastly in a research report on Thursday, February 12th. Citigroup upped their price target on Fastly from $10.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, February 13th. Royal Bank Of Canada upped their price target on Fastly from $12.00 to $20.00 and gave the company a "sector perform" rating in a research report on Monday, March 2nd. Piper Sandler reaffirmed a "neutral" rating and set a $14.00 price target (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Finally, Evercore assumed coverage on Fastly in a research report on Tuesday. They set an "outperform" rating and a $24.00 price target for the company. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Fastly presently has an average rating of "Hold" and a consensus price target of $16.25.

Fastly Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly's real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.

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