Vanguard Group Inc. Has $144.34 Million Stock Position in Fastly, Inc. (NYSE:FSLY)

Vanguard Group Inc. increased its holdings in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,289,861 shares of the company's stock after purchasing an additional 103,440 shares during the quarter. Vanguard Group Inc. owned approximately 10.90% of Fastly worth $144,336,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FSLY. Geode Capital Management LLC boosted its stake in shares of Fastly by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company's stock worth $22,831,000 after buying an additional 46,951 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fastly by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,074,175 shares of the company's stock worth $10,140,000 after acquiring an additional 16,533 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Fastly during the fourth quarter valued at approximately $3,717,000. SG Americas Securities LLC grew its stake in Fastly by 56.6% in the fourth quarter. SG Americas Securities LLC now owns 346,632 shares of the company's stock valued at $3,272,000 after purchasing an additional 125,275 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new position in shares of Fastly during the 4th quarter worth approximately $3,192,000. Institutional investors own 79.71% of the company's stock.

Wall Street Analysts Forecast Growth

FSLY has been the subject of several recent analyst reports. Oppenheimer assumed coverage on Fastly in a report on Thursday, March 20th. They issued a "market perform" rating for the company. Piper Sandler cut their price target on shares of Fastly from $9.00 to $6.00 and set a "neutral" rating for the company in a research note on Tuesday. Citigroup boosted their price objective on shares of Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada reduced their price target on Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $8.25.

Fastly Stock Performance

Shares of NYSE:FSLY traded up $0.07 during trading on Friday, reaching $5.45. 1,894,966 shares of the stock were exchanged, compared to its average volume of 3,342,504. The firm has a market cap of $775.11 million, a PE ratio of -4.78 and a beta of 1.43. 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 12 month low of $4.65 and a 12 month high of $13.75. The stock has a 50-day moving average price of $7.10 and a 200-day moving average price of $8.14.

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

Insider Activity

In related news, CTO Artur Bergman sold 31,551 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $10.31, for a total transaction of $325,290.81. Following the sale, the chief technology officer now owns 3,394,136 shares in the company, valued at approximately $34,993,542.16. This trade represents a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Nightingale sold 35,509 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $285,492.36. Following the transaction, the chief executive officer now owns 1,553,301 shares of the company's stock, valued at approximately $12,488,540.04. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,150 shares of company stock worth $1,356,178. Corporate insiders own 6.70% of the company's stock.

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.