Wells Fargo & Company MN Sells 87,855 Shares of Fastly, Inc. (NYSE:FSLY)

Wells Fargo & Company MN trimmed its position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 37.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,223 shares of the company's stock after selling 87,855 shares during the period. Wells Fargo & Company MN owned 0.10% of Fastly worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of FSLY. AlphaQuest LLC boosted its holdings in Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock worth $44,000 after buying an additional 2,960 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock worth $54,000 after acquiring an additional 3,221 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Fastly in the fourth quarter worth $72,000. Cibc World Markets Corp purchased a new position in shares of Fastly in the fourth quarter valued at $115,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Fastly during the 4th quarter valued at $149,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fastly news, CFO Ronald W. Kisling sold 5,342 shares of Fastly 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 transaction, the chief financial officer now directly owns 665,693 shares of the company's stock, valued at $3,501,545.18. The trade was a 0.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 10,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $10.58, for a total value of $105,800.00. Following the sale, the chief technology officer now directly owns 3,364,136 shares of the company's stock, valued at approximately $35,592,558.88. This trade represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,903 shares of company stock worth $900,727 in the last 90 days. 6.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FSLY shares. Oppenheimer assumed coverage on shares of Fastly in a report on Thursday, March 20th. They issued a "market perform" rating on the stock. Morgan Stanley lowered their target price on shares of Fastly from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Citigroup boosted their price target on shares of Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Piper Sandler lowered their price objective on Fastly from $9.00 to $6.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada reduced their target price on Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. Based on data from MarketBeat, Fastly has an average rating of "Hold" and an average target price of $8.25.

Fastly Price Performance

Shares of Fastly stock traded up $0.10 during trading on Friday, hitting $5.88. 367,218 shares of the stock traded hands, compared to its average volume of 3,248,117. The stock has a market cap of $850.03 million, a price-to-earnings ratio of -5.17 and a beta of 1.43. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $12.08. The firm's fifty day moving average is $6.19 and its 200-day moving average is $7.95.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings results 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.

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.