Stephens Inc. AR Makes New Investment in Fastly, Inc. $FSLY

Stephens Inc. AR purchased a new stake in Fastly, Inc. (NYSE:FSLY) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 33,269 shares of the company’s stock, valued at approximately $967,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FSLY. Vanguard Group Inc. raised its holdings in shares of Fastly by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock valued at $172,825,000 after purchasing an additional 310,234 shares during the period. Morgan Stanley grew its holdings in Fastly by 14.7% during the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after purchasing an additional 1,071,222 shares during the period. Alyeska Investment Group L.P. increased its position in Fastly by 2,795.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after buying an additional 4,623,767 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Fastly by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 4,137,808 shares of the company’s stock valued at $35,380,000 after buying an additional 117,213 shares during the period. Finally, First Trust Advisors LP raised its stake in Fastly by 29.0% in the fourth quarter. First Trust Advisors LP now owns 3,507,189 shares of the company’s stock valued at $35,703,000 after buying an additional 787,981 shares during the period. Institutional investors own 79.71% of the company’s stock.

Insider Activity

In related news, CTO Artur Bergman sold 32,181 shares of Fastly stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $542,249.85. Following the completion of the sale, the chief technology officer directly owned 2,086,529 shares of the company’s stock, valued at approximately $35,158,013.65. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott R. Lovett sold 41,716 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.77, for a total value of $741,293.32. Following the completion of the sale, the insider owned 1,392,778 shares of the company’s stock, valued at $24,749,665.06. This trade represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 304,062 shares of company stock valued at $5,482,012. 6.70% of the stock is owned by insiders.

Fastly Stock Down 3.6%

Fastly stock opened at $19.59 on Friday. The stock has a market cap of $3.07 billion, a P/E ratio of -20.41 and a beta of 0.34. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a twelve month low of $6.29 and a twelve month high of $34.82. The company’s 50-day moving average price is $18.84 and its two-hundred day moving average price is $18.41.

Analysts Set New Price Targets

Several brokerages have recently commented on FSLY. Evercore assumed coverage on Fastly in a research note on Tuesday, April 14th. They set an “outperform” rating and a $24.00 target price for the company. Royal Bank Of Canada dropped their price target on Fastly to $18.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Raymond James Financial raised Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Friday, May 8th. Piper Sandler reduced their price objective on shares of Fastly to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, Citigroup lifted their price objective on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.62.

Fastly 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.