Fastly, Inc. (NYSE:FSLY) Stock Holdings Boosted by Firsthand Capital Management Inc.

Firsthand Capital Management Inc. lifted its position in Fastly, Inc. (NYSE:FSLY) by 150.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,000 shares of the company’s stock after buying an additional 30,000 shares during the period. Fastly makes up 0.7% of Firsthand Capital Management Inc.’s holdings, making the stock its 28th largest position. Firsthand Capital Management Inc.’s holdings in Fastly were worth $378,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd bought a new stake in Fastly during the second quarter worth approximately $38,000. Cambridge Trust Co. acquired a new stake in shares of Fastly during the 1st quarter valued at $39,000. FMR LLC boosted its stake in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares in the last quarter. EMC Capital Management grew its holdings in shares of Fastly by 400.0% in the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Cape Investment Advisory Inc. raised its position in shares of Fastly by 27,666.7% during the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after purchasing an additional 4,150 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Trading Up 7.4 %

Shares of NYSE:FSLY opened at $8.51 on Friday. The firm has a fifty day moving average of $7.39 and a two-hundred day moving average of $7.28. 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 12-month low of $5.52 and a 12-month high of $25.87. The firm has a market capitalization of $1.19 billion, a P/E ratio of -7.81 and a beta of 1.24.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. During the same quarter last year, the firm earned ($0.33) earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts expect that Fastly, Inc. will post -0.87 EPS for the current fiscal year.

Insider Activity at Fastly

In other news, CFO Ronald W. Kisling sold 7,449 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the transaction, the chief financial officer now owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Artur Bergman sold 19,889 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the sale, the chief technology officer now owns 6,205,000 shares of the company’s stock, valued at approximately $36,981,800. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,439 shares of company stock valued at $1,209,560. 6.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FSLY. Morgan Stanley decreased their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Robert W. Baird lifted their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum boosted their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, Fastly has a consensus rating of “Hold” and a consensus price target of $7.94.

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.