Mirae Asset Global Investments Co. Ltd. Has $23.60 Million Stake in Fastly, Inc. (NYSE:FSLY)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Fastly, Inc. (NYSE:FSLY - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,325,751 shares of the company's stock after acquiring an additional 166,184 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 1.01% of Fastly worth $23,598,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Qube Research & Technologies Ltd raised its stake in Fastly by 77.7% during the third quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company's stock valued at $14,902,000 after buying an additional 339,820 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Fastly during the third quarter valued at approximately $1,942,000. Vanguard Group Inc. raised its stake in Fastly by 3.1% during the third quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company's stock valued at $244,075,000 after buying an additional 381,845 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Fastly during the third quarter valued at approximately $477,000. Finally, Lisanti Capital Growth LLC acquired a new stake in Fastly during the third quarter valued at approximately $8,327,000. Institutional investors and hedge funds own 79.71% of the company's stock.

Fastly Stock Performance

FSLY stock traded up $0.47 on Tuesday, reaching $13.98. The company's stock had a trading volume of 3,637,500 shares, compared to its average volume of 4,026,764. Fastly, Inc. has a 52 week low of $11.61 and a 52 week high of $25.87. The company has a market capitalization of $1.88 billion, a P/E ratio of -12.98 and a beta of 1.22. The firm has a fifty day moving average of $15.72 and a two-hundred day moving average of $16.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.05. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. The business had revenue of $137.78 million during the quarter, compared to analyst estimates of $139.25 million. As a group, analysts predict that Fastly, Inc. will post -1.07 EPS for the current fiscal year.

Analysts Set New Price Targets

FSLY has been the topic of several research reports. Royal Bank of Canada upgraded Fastly from an "underperform" rating to a "sector perform" rating and upped their price objective for the company from $12.00 to $18.00 in a research note on Monday, January 8th. Craig Hallum cut Fastly from a "buy" rating to a "hold" rating and set a $20.00 price target on the stock. in a research report on Thursday, February 15th. Citigroup upgraded Fastly from a "sell" rating to a "neutral" rating and increased their price target for the stock from $11.00 to $20.00 in a research report on Monday, January 22nd. Bank of America dropped their price target on Fastly from $28.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, March 28th. Finally, Piper Sandler upgraded Fastly from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $19.00 to $16.00 in a research report on Monday. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.11.

Insider Buying and Selling

In other Fastly news, CEO Todd Nightingale sold 50,708 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.09, for a total transaction of $815,891.72. Following the completion of the transaction, the chief executive officer now directly owns 1,371,348 shares of the company's stock, valued at approximately $22,064,989.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Fastly news, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $12.92, for a total transaction of $155,040.00. Following the completion of the transaction, the chief financial officer now directly owns 640,222 shares of the company's stock, valued at approximately $8,271,668.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd Nightingale sold 50,708 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.09, for a total value of $815,891.72. Following the transaction, the chief executive officer now directly owns 1,371,348 shares of the company's stock, valued at $22,064,989.32. The disclosure for this sale can be found here. Insiders sold 311,195 shares of company stock valued at $5,434,420 in the last three months. 7.60% of the stock is currently owned by corporate insiders.

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.