Wellington Management Group LLP Invests $8.70 Million in Fastly, Inc. $FSLY

Key Points

• Wellington Management acquired 473,659 Fastly shares worth approximately $8.70 million, giving it a 0.30% stake. Institutional investors and hedge funds collectively own 79.71% of the company.
• Fastly exceeded quarterly expectations, reporting $183.32 million in revenue and $0.15 EPS versus analysts’ estimates of $173.94 million and $0.07, respectively, though the company remains unprofitable.
• Fastly insiders sold 568,894 shares worth approximately $13.95 million during the latest quarter. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $25.33.

Wellington Management Group LLP bought a new position in shares of Fastly, Inc. (NASDAQ:FSLY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 473,659 shares of the company's stock, valued at approximately $8,696,000. Wellington Management Group LLP owned 0.30% of Fastly at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. boosted its stake in Fastly by 2,795.2% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company's stock valued at $48,754,000 after purchasing an additional 4,623,767 shares during the period. First Trust Advisors LP increased its position in Fastly by 100.5% during the 1st quarter. First Trust Advisors LP now owns 7,031,952 shares of the company's stock worth $204,349,000 after buying an additional 3,524,763 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Fastly by 3,941.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company's stock worth $9,383,000 after buying an additional 1,296,119 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Fastly during the fourth quarter worth $11,657,000. Finally, Morgan Stanley boosted its position in shares of Fastly by 14.7% in the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company's stock valued at $84,893,000 after acquiring an additional 1,071,222 shares during the period. 79.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Richard Wong sold 148,015 shares of Fastly stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $28.61, for a total value of $4,234,709.15. Following the transaction, the chief financial officer owned 1,091,286 shares in the company, valued at approximately $31,221,692.46. This trade represents a 11.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Artur Bergman sold 32,387 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $28.60, for a total value of $926,268.20. Following the sale, the chief technology officer owned 2,005,191 shares of the company's stock, valued at approximately $57,348,462.60. This represents a 1.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 568,894 shares of company stock worth $13,946,933. 4.20% of the stock is currently owned by company insiders.

Fastly Stock Performance

Shares of Fastly stock opened at $21.49 on Wednesday. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.42 billion, a PE ratio of -40.55 and a beta of 0.36. The company has a 50 day moving average of $22.33 and a 200-day moving average of $22.15. Fastly, Inc. has a 1-year low of $7.28 and a 1-year high of $34.82.

Fastly (NASDAQ:FSLY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.08. Fastly had a negative net margin of 11.80% and a negative return on equity of 6.31%. The business had revenue of $183.32 million for the quarter, compared to analysts' expectations of $173.94 million. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. As a group, equities research analysts forecast that Fastly, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FSLY shares. Raymond James Financial reaffirmed an "outperform" rating and set a $29.00 price target on shares of Fastly in a research report on Thursday, August 6th. Evercore restated an "outperform" rating on shares of Fastly in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fastly in a report on Friday, August 7th. KeyCorp lifted their price target on shares of Fastly from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, Piper Sandler boosted their price target on Fastly from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $25.33.

Fastly Company 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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