Fastly, Inc. (NYSE:FSLY) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP grew its holdings in Fastly, Inc. (NYSE:FSLY - Free Report) by 226.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 418,500 shares of the company's stock after buying an additional 290,200 shares during the period. Two Sigma Advisers LP owned approximately 0.30% of Fastly worth $3,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC grew its stake in shares of Fastly by 169.1% in 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 in the last quarter. Jones Financial Companies Lllp boosted 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 purchasing an additional 3,221 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of Fastly during the 4th quarter worth about $72,000. Canada Pension Plan Investment Board purchased a new position in shares of Fastly during the 4th quarter worth about $82,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Fastly during the 4th quarter worth about $83,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FSLY has been the subject of a number of recent analyst reports. 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. 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. 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. Finally, Oppenheimer assumed coverage on shares of Fastly in a report on Thursday, March 20th. They set a "market perform" rating for the company. Nine research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $8.28.

Insider Activity

In related news, CTO Artur Bergman sold 5,304 shares of the business's 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 completion of the transaction, the chief technology officer now owns 3,669,058 shares in the company, valued at $25,243,119.04. The trade was a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Nightingale sold 12,547 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $7.19, for a total transaction of $90,212.93. Following the transaction, the chief executive officer now owns 1,904,388 shares of the company's stock, valued at approximately $13,692,549.72. This trade represents a 0.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,315 shares of company stock worth $245,901. 6.70% of the stock is currently owned by corporate insiders.

Fastly Trading Down 0.1%

FSLY traded down $0.01 on Friday, reaching $7.34. 267,476 shares of the company traded hands, compared to its average volume of 3,085,075. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08. The firm has a fifty day simple moving average of $6.38 and a two-hundred day simple moving average of $7.94. The company has a market cap of $1.06 billion, a P/E ratio of -6.43 and a beta of 1.47. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $138.40 million. During the same quarter in the previous year, the business posted ($0.05) EPS. The company's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that Fastly, Inc. will post -0.78 earnings per share for the current year.

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.