Vanguard Group Inc. Grows Stake in Fastly, Inc. $FSLY

Vanguard Group Inc. boosted its position in shares of Fastly, Inc. (NYSE:FSLY) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,666,672 shares of the company’s stock after purchasing an additional 554,909 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Fastly worth $142,500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its holdings in shares of Fastly by 14.9% during the third quarter. Oppenheimer & Co. Inc. now owns 108,986 shares of the company’s stock valued at $932,000 after buying an additional 14,114 shares during the last quarter. Savant Capital LLC increased its holdings in shares of Fastly by 27.6% in the 3rd quarter. Savant Capital LLC now owns 18,721 shares of the company’s stock worth $160,000 after purchasing an additional 4,051 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Fastly in the third quarter worth $61,864,000. State of Wyoming lifted its holdings in shares of Fastly by 11.5% during the third quarter. State of Wyoming now owns 58,891 shares of the company’s stock valued at $504,000 after purchasing an additional 6,068 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Fastly by 3.2% in the 3rd quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock worth $348,000 after buying an additional 1,253 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Down 0.1%

FSLY opened at $21.14 on Wednesday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -22.02 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The firm’s fifty day moving average is $12.00 and its 200 day moving average is $10.16. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $21.23.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of Fastly in a report on Monday, November 17th. They set a “market perform” rating on the stock. Wall Street Zen upgraded shares of Fastly from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. KeyCorp raised Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Monday, December 15th. Piper Sandler reissued a “neutral” rating and issued a $14.00 target price (up from $11.00) on shares of Fastly in a report on Thursday, February 12th. Finally, William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.14.

Insider Transactions at Fastly

In related news, insider Scott R. Lovett sold 42,118 shares of Fastly stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $10.10, for a total transaction of $425,391.80. Following the sale, the insider owned 1,002,137 shares of the company’s stock, valued at approximately $10,121,583.70. This trade represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Artur Bergman sold 200,847 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $18.42, for a total value of $3,699,601.74. Following the completion of the transaction, the chief technology officer directly owned 2,299,711 shares in the company, valued at approximately $42,360,676.62. This represents a 8.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 919,242 shares of company stock valued at $12,797,852. Corporate insiders own 6.70% of the company’s stock.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.