Neuberger Berman Group LLC Buys 62,456 Shares of Fastly, Inc. (NYSE:FSLY)

Neuberger Berman Group LLC raised its stake in shares of Fastly, Inc. (NYSE:FSLY) by 119.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,708 shares of the company’s stock after buying an additional 62,456 shares during the period. Neuberger Berman Group LLC owned about 0.09% of Fastly worth $2,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FSLY. Qube Research & Technologies Ltd grew its position in Fastly by 77.7% during the third quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock valued at $14,902,000 after buying an additional 339,820 shares during the period. Essex Investment Management Co. LLC purchased a new position in shares of Fastly during the 3rd quarter worth $1,942,000. Vanguard Group Inc. grew its position in shares of Fastly by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock valued at $244,075,000 after acquiring an additional 381,845 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Fastly in the 3rd quarter worth $477,000. Finally, Moody Aldrich Partners LLC bought a new position in Fastly in the 4th quarter worth $2,155,000. 79.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. DA Davidson cut Fastly from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $24.00 to $8.50 in a research report on Thursday, May 2nd. Citigroup reduced their target price on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Royal Bank of Canada lowered their price target on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $19.00 to $16.00 in a research note on Monday, April 8th. Finally, Bank of America cut shares of Fastly from a “buy” rating to an “underperform” rating and lowered their target price for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.61.

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 7,486 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the sale, the chief financial officer now owns 632,736 shares in the company, valued at $8,225,568. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Artur Bergman sold 10,928 shares of Fastly stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $8.84, for a total value of $96,603.52. Following the completion of the transaction, the chief technology officer now owns 6,244,124 shares in the company, valued at approximately $55,198,056.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 7,486 shares of Fastly stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total transaction of $97,318.00. Following the transaction, the chief financial officer now directly owns 632,736 shares of the company’s stock, valued at $8,225,568. The disclosure for this sale can be found here. Insiders have sold 127,924 shares of company stock valued at $1,247,160 in the last ninety days. Corporate insiders own 6.70% of the company’s stock.

Fastly Stock Down 1.6 %

Shares of NYSE FSLY opened at $8.48 on Monday. Fastly, Inc. has a 52-week low of $7.83 and a 52-week high of $25.87. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $11.47 and its two-hundred day moving average is $15.47.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, May 1st. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.02. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. The firm had revenue of $133.52 million for the quarter, compared to analysts’ expectations of $133.01 million. On average, analysts forecast that Fastly, Inc. will post -1.08 earnings per share 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.