Walleye Capital LLC raised its stake in Fastly, Inc. (NYSE:FSLY – Get Rating) by 413.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,411 shares of the company's stock after acquiring an additional 56,690 shares during the quarter. Walleye Capital LLC owned approximately 0.06% of Fastly worth $1,224,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of Fastly by 65.3% in the first quarter. First Trust Advisors LP now owns 7,846,587 shares of the company's stock valued at $136,374,000 after buying an additional 3,099,852 shares during the period. Coatue Management LLC acquired a new stake in Fastly during the 4th quarter valued at approximately $93,363,000. Legal & General Group Plc increased its position in Fastly by 43.4% during the 4th quarter. Legal & General Group Plc now owns 2,084,803 shares of the company's stock valued at $73,906,000 after purchasing an additional 630,586 shares during the period. Geode Capital Management LLC increased its position in Fastly by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,310,470 shares of the company's stock valued at $46,456,000 after purchasing an additional 44,439 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Fastly during the 1st quarter valued at approximately $21,322,000. Institutional investors own 65.42% of the company's stock.
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Analyst Ratings Changes
A number of analysts have weighed in on the stock. Craig Hallum decreased their target price on shares of Fastly from $19.00 to $13.00 in a research report on Thursday, August 4th. Royal Bank of Canada downgraded shares of Fastly from a "sector perform" rating to an "underperform" rating and reduced their price objective for the stock from $17.50 to $9.00 in a research report on Tuesday, July 19th. Piper Sandler reduced their price objective on shares of Fastly from $19.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, July 6th. Raymond James reduced their price objective on shares of Fastly from $35.00 to $25.00 and set a "strong-buy" rating for the company in a research report on Friday, August 12th. Finally, DA Davidson reduced their price objective on shares of Fastly to $12.00 in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.25.
Insider Buying and Selling
In other Fastly news, CEO Joshua Bixby sold 18,652 shares of the firm's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $11.97, for a total transaction of $223,264.44. Following the transaction, the chief executive officer now directly owns 591,630 shares in the company, valued at approximately $7,081,811.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Fastly news, CEO Joshua Bixby sold 18,652 shares of the firm's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $11.97, for a total transaction of $223,264.44. Following the transaction, the chief executive officer now directly owns 591,630 shares in the company, valued at approximately $7,081,811.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ronald W. Kisling sold 5,083 shares of the firm's stock in a transaction on Monday, July 18th. The shares were sold at an average price of $12.02, for a total value of $61,097.66. Following the transaction, the chief financial officer now owns 409,054 shares in the company, valued at $4,916,829.08. The disclosure for this sale can be found here. Insiders have sold a total of 65,622 shares of company stock worth $788,756 in the last ninety days. Corporate insiders own 8.90% of the company's stock.
Fastly Price Performance
Shares of FSLY opened at $9.28 on Monday. Fastly, Inc. has a 12-month low of $8.27 and a 12-month high of $58.62. The business's fifty day moving average is $10.74 and its 200 day moving average is $13.20. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.13 billion, a P/E ratio of -5.62 and a beta of 1.43.
Fastly Profile
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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.
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