Northern Trust Corp Raises Holdings in Fastly, Inc. (NYSE:FSLY)

Northern Trust Corp increased its position in Fastly, Inc. (NYSE:FSLY - Free Report) by 28.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,577,729 shares of the company's stock after buying an additional 348,451 shares during the quarter. Northern Trust Corp owned 1.12% of Fastly worth $14,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FSLY. Swiss National Bank lifted its holdings in shares of Fastly by 2.2% during the 4th quarter. Swiss National Bank now owns 259,000 shares of the company's stock valued at $2,445,000 after buying an additional 5,500 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Fastly in the 4th quarter worth approximately $269,000. Mariner LLC lifted its stake in shares of Fastly by 18.0% in 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 period. SG Americas Securities LLC lifted its stake in shares of Fastly by 56.6% in the 4th quarter. SG Americas Securities LLC now owns 346,632 shares of the company's stock worth $3,272,000 after purchasing an additional 125,275 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Fastly during the 4th quarter worth approximately $3,717,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 5,304 shares of Fastly stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.88, for a total transaction of $36,491.52. Following the completion of the sale, the chief technology officer now directly owns 3,669,058 shares in the company, valued at approximately $25,243,119.04. This trade represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 5,342 shares of Fastly stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total value of $28,098.92. Following the sale, the chief financial officer now owns 665,693 shares of the company's stock, valued at approximately $3,501,545.18. This trade represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,304 shares of company stock worth $213,651. 6.70% of the stock is currently owned by insiders.

Fastly Price Performance

Shares of NYSE FSLY traded down $0.18 during midday trading on Wednesday, reaching $7.51. 226,528 shares of the stock traded hands, compared to its average volume of 3,002,828. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a market capitalization of $1.09 billion, a PE ratio of -6.59 and a beta of 1.47. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08. The company's 50 day moving average is $6.35 and its 200 day moving average is $7.96.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) EPS 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 analyst estimates of $138.40 million. Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Fastly's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) earnings per share. On average, equities research analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Oppenheimer began coverage on shares of Fastly in a report on Thursday, March 20th. They issued a "market perform" rating on the stock. Royal Bank of Canada raised their price objective on Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley raised their price objective on Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Nine equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.28.

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.