Raymond James & Associates Purchases 104,096 Shares of Fastly, Inc. (NYSE:FSLY)

Raymond James & Associates lifted its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 168.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,042 shares of the company's stock after buying an additional 104,096 shares during the quarter. Raymond James & Associates owned about 0.13% of Fastly worth $2,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Neo Ivy Capital Management purchased a new stake in Fastly in the second quarter worth about $29,000. Meeder Asset Management Inc. lifted its stake in shares of Fastly by 13,926.9% in the fourth quarter. Meeder Asset Management Inc. now owns 3,647 shares of the company's stock worth $30,000 after buying an additional 3,621 shares in the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Fastly in the third quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastly in the third quarter worth approximately $36,000. Finally, MetLife Investment Management LLC bought a new position in shares of Fastly in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 79.71% of the company's stock.

Fastly Price Performance

FSLY stock traded down $0.51 during trading on Monday, hitting $13.12. 3,323,851 shares of the company's stock traded hands, compared to its average volume of 3,982,935. Fastly, Inc. has a 52 week low of $11.61 and a 52 week high of $25.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14. The business has a fifty day simple moving average of $14.96 and a 200 day simple moving average of $16.62. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -12.62 and a beta of 1.22.

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

Insider Buying and Selling at Fastly

In other news, insider Artur Bergman sold 17,500 shares of the firm's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $17.51, for a total value of $306,425.00. Following the completion of the sale, the insider now owns 6,176,244 shares in the company, valued at approximately $108,146,032.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastly news, insider Artur Bergman sold 17,500 shares of the firm's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $17.51, for a total transaction of $306,425.00. Following the transaction, the insider now owns 6,176,244 shares of the company's stock, valued at approximately $108,146,032.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Devon Daniels sold 7,766 shares of the firm's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $12.66, for a total transaction of $98,317.56. Following the transaction, the director now directly owns 34,328 shares in the company, valued at approximately $434,592.48. The disclosure for this sale can be found here. Insiders sold 311,195 shares of company stock worth $5,434,420 over the last 90 days. 7.60% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.