Hussman Strategic Advisors Inc. Makes New Investment in Fastly, Inc. (NYSE:FSLY)

Hussman Strategic Advisors Inc. purchased a new position in Fastly, Inc. (NYSE:FSLY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 168,000 shares of the company's stock, valued at approximately $2,990,000. Hussman Strategic Advisors Inc. owned approximately 0.13% of Fastly at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new stake in Fastly in the 2nd quarter worth approximately $29,000. Meeder Asset Management Inc. increased its holdings 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 purchasing an additional 3,621 shares during the period. Hanseatic Management Services Inc. purchased a new stake in shares of Fastly in the third quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Fastly during the third quarter valued at $36,000. Finally, MetLife Investment Management LLC purchased a new position in Fastly during the first quarter worth about $37,000. 79.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FSLY shares. Piper Sandler raised Fastly from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $19.00 to $16.00 in a report on Monday, April 8th. Citigroup raised shares of Fastly from a "sell" rating to a "neutral" rating and raised their target price for the company from $11.00 to $20.00 in a research note on Monday, January 22nd. Royal Bank of Canada raised shares of Fastly from an "underperform" rating to a "sector perform" rating and boosted their price target for the stock from $12.00 to $18.00 in a research note on Monday, January 8th. Craig Hallum lowered shares of Fastly from a "buy" rating to a "hold" rating and set a $20.00 price target on the stock. in a report on Thursday, February 15th. Finally, Bank of America lowered their price objective on shares of Fastly from $28.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, March 28th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $19.11.

Fastly Trading Down 0.6 %

Shares of FSLY traded down $0.08 during mid-day trading on Friday, reaching $12.30. The company's stock had a trading volume of 3,056,435 shares, compared to its average volume of 2,809,934. Fastly, Inc. has a 52 week low of $11.61 and a 52 week high of $25.87. The stock has a market cap of $1.65 billion, a PE ratio of -11.83 and a beta of 1.22. The company's fifty day moving average price is $14.13 and its two-hundred day moving average price is $16.45. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY - Get Free Report) last issued its earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.05. The company 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, analysts predict that Fastly, Inc. will post -1.07 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Ronald W. Kisling sold 7,486 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total transaction of $97,318.00. Following the completion of the sale, the chief financial officer now directly owns 632,736 shares in the company, valued at approximately $8,225,568. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastly news, insider Artur Bergman sold 74,375 shares of the firm's stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $20.25, for a total value of $1,506,093.75. Following the sale, the insider now owns 6,101,869 shares of the company's stock, valued at approximately $123,562,847.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ronald W. Kisling sold 7,486 shares of the company's stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total transaction of $97,318.00. Following the transaction, the chief financial officer now directly owns 632,736 shares of the company's stock, valued at $8,225,568. The disclosure for this sale can be found here. In the last quarter, insiders sold 295,451 shares of company stock valued at $5,126,527. Insiders own 7.60% of the company's stock.

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.