UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 39,782 Shares of Fastly, Inc. (NYSE:FSLY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Fastly, Inc. (NYSE:FSLY - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 263,124 shares of the company's stock after purchasing an additional 39,782 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.19% of Fastly worth $2,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swiss National Bank lifted its stake in Fastly by 2.2% during the fourth quarter. Swiss National Bank now owns 259,000 shares of the company's stock valued at $2,445,000 after purchasing an additional 5,500 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Fastly in the 4th quarter worth approximately $269,000. Mariner LLC increased its stake in shares of Fastly by 18.0% during the 4th quarter. Mariner LLC now owns 22,868 shares of the company's stock worth $216,000 after purchasing an additional 3,487 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Fastly during the 4th quarter worth $3,717,000. Finally, Northern Trust Corp increased its stake in shares of Fastly by 28.3% during the 4th quarter. Northern Trust Corp now owns 1,577,729 shares of the company's stock worth $14,894,000 after purchasing an additional 348,451 shares during the last quarter. Institutional investors own 79.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FSLY. Royal Bank of Canada raised 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. Morgan Stanley lifted their price target on shares of Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. KeyCorp raised shares of Fastly to a "sector weight" rating in a research note on Thursday. 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 report on Thursday, May 8th. Finally, Oppenheimer began coverage on shares of Fastly in a research report on Thursday, March 20th. They set a "market perform" rating for the company. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Fastly currently has an average rating of "Hold" and a consensus price target of $8.28.

Insiders Place Their Bets

In other news, CEO Todd Nightingale sold 12,547 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $7.19, for a total transaction of $90,212.93. Following the completion of the transaction, the chief executive officer now owns 1,904,388 shares of the company's stock, valued at approximately $13,692,549.72. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 5,342 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total value of $28,098.92. Following the transaction, the chief financial officer now directly owns 665,693 shares of the company's stock, valued at $3,501,545.18. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,675 shares of company stock valued at $340,781 in the last three months. 6.70% of the stock is currently owned by insiders.

Fastly Trading Up 1.6%

NYSE:FSLY traded up $0.12 during mid-day trading on Friday, hitting $7.66. 1,506,373 shares of the company's stock were exchanged, compared to its average volume of 3,074,144. The company has a 50 day simple moving average of $6.49 and a 200-day simple moving average of $7.98. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08. The firm has a market capitalization of $1.11 billion, a P/E ratio of -6.72 and a beta of 1.29.

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

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.