Fastly, Inc. (NYSE:FSLY) Shares Sold by EMC Capital Management

EMC Capital Management reduced its position in Fastly, Inc. (NYSE:FSLY) by 68.6% in the 4th quarter, Holdings Channel reports. The fund owned 8,000 shares of the company’s stock after selling 17,473 shares during the period. EMC Capital Management’s holdings in Fastly were worth $76,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can increased its stake in Fastly by 11,140.2% during the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after acquiring an additional 1,293,490 shares during the last quarter. Quadrature Capital Ltd lifted its stake in shares of Fastly by 84.2% during the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after purchasing an additional 51,224 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after buying an additional 801,968 shares during the period. XTX Topco Ltd purchased a new stake in shares of Fastly during the 3rd quarter valued at about $400,000. Finally, Zacks Investment Management acquired a new position in Fastly during the 3rd quarter worth approximately $914,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Artur Bergman sold 16,922 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $105,762.50. Following the sale, the chief technology officer now directly owns 6,138,900 shares in the company, valued at $38,368,125. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd Nightingale sold 49,816 shares of Fastly stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $311,350.00. Following the transaction, the chief executive officer now owns 1,600,973 shares in the company, valued at $10,006,081.25. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 289,330 shares of company stock valued at $2,476,849 over the last ninety days. 6.70% of the stock is owned by company insiders.

Fastly Price Performance

Shares of FSLY opened at $10.46 on Friday. The firm has a market cap of $1.47 billion, a PE ratio of -9.59 and a beta of 1.24. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87. The firm’s 50 day moving average price is $9.73 and its 200 day moving average price is $7.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.33) earnings per share. As a group, research analysts expect that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on FSLY shares. Citigroup upped their price objective 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 upped their price target on Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. DA Davidson lifted their price objective on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird raised their target price on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price target on Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.85.

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.