Moody Aldrich Partners LLC Takes $2.16 Million Position in Fastly, Inc. (NYSE:FSLY)

Moody Aldrich Partners LLC bought a new position in Fastly, Inc. (NYSE:FSLY - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 121,059 shares of the company's stock, valued at approximately $2,155,000. Moody Aldrich Partners LLC owned 0.09% of Fastly at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in Fastly in the 2nd quarter worth about $29,000. Meeder Asset Management Inc. boosted its stake in Fastly by 13,926.9% in the 4th quarter. Meeder Asset Management Inc. now owns 3,647 shares of the company's stock worth $30,000 after purchasing an additional 3,621 shares in the last quarter. Hanseatic Management Services Inc. bought a new position in Fastly in the 3rd quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Fastly in the 3rd quarter worth about $36,000. Finally, MetLife Investment Management LLC bought a new position in Fastly in the 1st quarter worth about $37,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Stock Performance

Shares of NYSE:FSLY traded down $0.13 during trading on Wednesday, hitting $13.84. The company's stock had a trading volume of 3,487,589 shares, compared to its average volume of 4,019,008. The company has a 50-day moving average of $15.45 and a 200-day moving average of $16.73. Fastly, Inc. has a 12 month low of $11.61 and a 12 month high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -13.31 and a beta of 1.22.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05. The firm had revenue of $137.78 million for the quarter, compared to analysts' expectations of $139.25 million. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. On average, sell-side analysts expect that Fastly, Inc. will post -1.07 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $12.92, for a total value of $155,040.00. Following the completion of the sale, the chief financial officer now directly owns 640,222 shares of the company's stock, valued at approximately $8,271,668.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastly news, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $12.92, for a total transaction of $155,040.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. Also, insider Artur Bergman sold 17,500 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $17.51, for a total transaction of $306,425.00. Following the sale, the insider now directly owns 6,176,244 shares of the company's stock, valued at $108,146,032.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,195 shares of company stock valued at $5,434,420. 7.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.