Two Sigma Investments LP Has $10.40 Million Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Two Sigma Investments LP boosted its holdings in Fastly, Inc. (NYSE:FSLY - Free Report) by 179.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,101,329 shares of the company's stock after buying an additional 707,053 shares during the period. Two Sigma Investments LP owned approximately 0.78% of Fastly worth $10,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC raised its position in shares of Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock valued at $44,000 after acquiring an additional 2,960 shares during the last quarter. Rhumbline Advisers increased its holdings in Fastly by 1.6% in the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company's stock valued at $1,814,000 after purchasing an additional 3,081 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after purchasing an additional 3,221 shares during the last quarter. Mariner LLC lifted its stake in Fastly by 18.0% in the fourth quarter. Mariner LLC now owns 22,868 shares of the company's stock valued at $216,000 after buying an additional 3,487 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings 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 during the last quarter. 79.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley upped their price target on Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Piper Sandler upped their target price on shares of Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Oppenheimer assumed coverage on shares of Fastly in a report on Thursday, March 20th. They issued a "market perform" rating on the stock. Finally, 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 report on Thursday, May 8th. Nine research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.28.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 5,342 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total transaction of $28,098.92. Following the sale, the chief financial officer now owns 665,693 shares in the company, valued at approximately $3,501,545.18. This represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Artur Bergman sold 5,304 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total value of $36,491.52. Following the transaction, the chief technology officer now directly owns 3,669,058 shares of the company's stock, valued at $25,243,119.04. This trade represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,315 shares of company stock worth $245,901. 6.70% of the stock is owned by insiders.

Fastly Stock Down 0.1%

Shares of NYSE:FSLY traded down $0.01 during midday trading on Friday, reaching $7.34. 242,821 shares of the company were exchanged, compared to its average volume of 3,085,017. The firm has a market cap of $1.06 billion, a PE ratio of -6.46 and a beta of 1.47. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08. The stock 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 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 data on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $144.47 million during the quarter, compared to analysts' expectations of $138.40 million. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Fastly's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

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.