Vanguard Group Inc. Grows Stock Holdings in Fastly, Inc. $FSLY

Key Points

• Vanguard Group Inc. increased its holdings in Fastly, Inc. by 2.0% during Q1, now owning approximately 15.59 million shares valued at $98.69 million.
• Insider selling has been notable, with CRO Scott R. Lovett and CFO Ronald W. Kisling selling significant shares recently, reflecting a 9.02% decrease in Lovett's position.
• Fastly's stock has seen a 3.7% increase recently, trading around $7.50, with analysts holding an average price target of $8.69 and mostly rating the stock as a "Hold."

Vanguard Group Inc. increased its holdings in Fastly, Inc. (NYSE:FSLY - Free Report) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,590,433 shares of the company's stock after purchasing an additional 300,572 shares during the period. Vanguard Group Inc. owned approximately 10.78% of Fastly worth $98,687,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Federated Hermes Inc. increased its position in Fastly by 0.9% in the first quarter. Federated Hermes Inc. now owns 211,638 shares of the company's stock worth $1,340,000 after purchasing an additional 1,988 shares during the last quarter. Bryce Point Capital LLC bought a new position in Fastly during the first quarter valued at $99,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Fastly by 16.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,503 shares of the company's stock valued at $263,000 after acquiring an additional 5,979 shares during the last quarter. Lane Generational LLC increased its position in Fastly by 19.2% during the first quarter. Lane Generational LLC now owns 322,501 shares of the company's stock valued at $2,041,000 after acquiring an additional 51,852 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Fastly during the first quarter valued at $386,000. Institutional investors own 79.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FSLY. KeyCorp upgraded shares of Fastly to a "sector weight" rating in a research report on Thursday, June 5th. Piper Sandler boosted their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Royal Bank Of Canada boosted their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Finally, Craig Hallum upgraded shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.69.

Insider Buying and Selling at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $7.41, for a total transaction of $88,920.00. Following the transaction, the chief financial officer directly owned 635,053 shares in the company, valued at $4,705,742.73. This represents a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 26,418 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.88, for a total transaction of $181,755.84. Following the transaction, the chief technology officer owned 3,599,616 shares in the company, valued at approximately $24,765,358.08. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,345 shares of company stock valued at $1,492,872 in the last 90 days. Insiders own 6.70% of the company's stock.

Fastly Stock Up 3.0%

Fastly stock traded up $0.23 during midday trading on Thursday, hitting $7.72. 2,801,016 shares of the company's stock were exchanged, compared to its average volume of 3,010,502. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 1.49. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $12.08. The firm has a 50-day moving average of $7.01 and a two-hundred day moving average of $6.90. The company has a market cap of $1.14 billion, a PE ratio of -7.49 and a beta of 1.19.

Fastly (NYSE:FSLY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. 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 prior year, the business earned ($0.07) EPS. The firm's quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts expect that Fastly, Inc. will post -0.78 earnings per share for the current fiscal 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.