Susquehanna Fundamental Investments LLC Takes $2.45 Million Position in Fastly, Inc. (NYSE:FSLY)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 259,294 shares of the company's stock, valued at approximately $2,448,000. Susquehanna Fundamental Investments LLC owned about 0.18% of Fastly as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. 180 Wealth Advisors LLC grew its holdings in shares of Fastly by 2.5% during the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company's stock worth $648,000 after purchasing an additional 1,695 shares during the period. SG Americas Securities LLC increased its position in shares of Fastly by 56.6% in the fourth quarter. SG Americas Securities LLC now owns 346,632 shares of the company's stock worth $3,272,000 after acquiring an additional 125,275 shares in the last quarter. Wealth Effects LLC lifted its holdings in shares of Fastly by 21.1% during the 4th quarter. Wealth Effects LLC now owns 28,651 shares of the company's stock valued at $270,000 after acquiring an additional 5,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Fastly by 239.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 64,500 shares of the company's stock valued at $609,000 after buying an additional 45,500 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Fastly by 1.6% in the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company's stock valued at $1,814,000 after acquiring an additional 3,081 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.

Fastly Price Performance

Shares of NYSE FSLY traded up $0.01 during midday trading on Monday, reaching $5.87. The company's stock had a trading volume of 274,918 shares, compared to its average volume of 2,899,570. The company has a 50 day moving average price of $6.18 and a 200 day moving average price of $7.95. The company has a market cap of $848.58 million, a price-to-earnings ratio of -5.14 and a beta of 1.47. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. On average, equities research analysts expect that Fastly, Inc. will post -0.78 EPS for the current year.

Insider Buying and Selling at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 5,342 shares of the firm's stock in a transaction that occurred 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 $3,501,545.18. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Artur Bergman sold 5,304 shares of the stock in a transaction on Wednesday, March 5th. The shares were 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 of the company's stock, valued at approximately $25,243,119.04. This trade represents a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,903 shares of company stock worth $798,627 over the last ninety days. 6.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Fastly from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Citigroup lifted their price objective on shares of Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. Piper Sandler dropped their target price on shares of Fastly from $9.00 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada lowered their price objective on shares of Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Finally, Oppenheimer initiated coverage on Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating for the company. Nine analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.