Banque Cantonale Vaudoise Boosts Stake in Fastly, Inc. (NYSE:FSLY)

Banque Cantonale Vaudoise boosted its stake in shares of Fastly, Inc. (NYSE:FSLY) by 42.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,982 shares of the company’s stock after purchasing an additional 2,368 shares during the period. Banque Cantonale Vaudoise’s holdings in Fastly were worth $475,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FSLY. Morgan Stanley lifted its holdings in Fastly by 2.2% during the first quarter. Morgan Stanley now owns 13,071,115 shares of the company’s stock valued at $879,424,000 after purchasing an additional 278,846 shares in the last quarter. Abdiel Capital Advisors LP lifted its stake in shares of Fastly by 22.0% during the 1st quarter. Abdiel Capital Advisors LP now owns 11,349,869 shares of the company’s stock valued at $763,619,000 after buying an additional 2,044,190 shares in the last quarter. BlackRock Inc. increased its stake in Fastly by 2.2% in the 1st quarter. BlackRock Inc. now owns 3,831,819 shares of the company’s stock worth $257,805,000 after buying an additional 82,139 shares in the last quarter. ARK Investment Management LLC raised its holdings in Fastly by 25.9% during the first quarter. ARK Investment Management LLC now owns 1,433,563 shares of the company’s stock valued at $96,450,000 after acquiring an additional 294,907 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Fastly by 4.3% in the first quarter. Geode Capital Management LLC now owns 967,378 shares of the company’s stock valued at $65,089,000 after acquiring an additional 39,535 shares in the last quarter. 63.68% of the stock is owned by institutional investors and hedge funds.

Shares of FSLY opened at $42.04 on Friday. The company’s fifty day simple moving average is $44.86 and its 200-day simple moving average is $54.04. The company has a market cap of $4.90 billion, a P/E ratio of -26.78 and a beta of 1.08. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 0.92. Fastly, Inc. has a twelve month low of $33.87 and a twelve month high of $136.50.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, August 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.19. The business had revenue of $85.03 million during the quarter, compared to the consensus estimate of $85.98 million. Fastly had a negative net margin of 55.22% and a negative return on equity of 16.57%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. Analysts predict that Fastly, Inc. will post -1.68 earnings per share for the current fiscal year.

A number of research analysts recently commented on FSLY shares. Piper Sandler lowered their price target on Fastly from $45.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, August 5th. Royal Bank of Canada initiated coverage on shares of Fastly in a research report on Thursday, June 10th. They set a “sector perform” rating and a $50.00 target price for the company. Raymond James initiated coverage on shares of Fastly in a research note on Monday, August 9th. They issued a “market perform” rating on the stock. DA Davidson cut Fastly from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $60.00 to $33.00 in a report on Thursday, August 5th. Finally, Craig Hallum dropped their price target on Fastly from $55.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, August 5th. Four analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, Fastly presently has a consensus rating of “Hold” and an average target price of $61.69.

In other Fastly news, EVP Brett Shirk sold 3,060 shares of the stock in a transaction dated Thursday, September 16th. The shares were sold at an average price of $43.39, for a total transaction of $132,773.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Artur Bergman sold 14,423 shares of the business’s stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $54.67, for a total transaction of $788,505.41. Following the completion of the sale, the insider now owns 6,005,867 shares of the company’s stock, valued at approximately $328,340,748.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,902 shares of company stock valued at $6,037,685. 10.32% of the stock is owned by company insiders.

Fastly Profile

Fastly, Inc provides real-time content delivery network services. It offers edge cloud platform, edge software development kit (SDK), content delivery and image optimization, video and streaming, cloud security, load balancing, and managed CDN. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Fastly (NYSE:FSLY)

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