First Eagle Investment Management LLC Buys New Shares in Fastly, Inc. (NYSE:FSLY)

First Eagle Investment Management LLC bought a new stake in Fastly, Inc. (NYSE:FSLY) during the fourth quarter, HoldingsChannel reports. The fund bought 338,173 shares of the company’s stock, valued at approximately $3,192,000.

Other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC increased its stake in Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after acquiring an additional 2,960 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after acquiring an additional 3,221 shares during the last quarter. FMR LLC increased its stake in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares during the last quarter. Wealthfront Advisers LLC bought a new position in Fastly in the fourth quarter valued at $72,000. Finally, Aigen Investment Management LP bought a new position in Fastly in the third quarter valued at $89,000. Institutional investors own 79.71% of the company’s stock.

Insiders Place Their Bets

In other Fastly news, CEO Todd Nightingale sold 8,595 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total value of $59,047.65. Following the completion of the sale, the chief executive officer now directly owns 1,544,706 shares in the company, valued at $10,612,130.22. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $12.01, for a total transaction of $40,834.00. Following the completion of the sale, the chief technology officer now owns 3,444,136 shares of the company’s stock, valued at $41,364,073.36. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,099 shares of company stock worth $1,627,884 over the last three months. Company insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup increased their target price on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Royal Bank of Canada reduced their price objective on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.55.

Fastly Stock Up 3.4 %

NYSE FSLY opened at $6.83 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a market capitalization of $971.20 million, a PE ratio of -5.99 and a beta of 1.31. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $14.12. The business’s 50-day moving average is $8.67 and its 200 day moving average is $8.18.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Sell-side analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Fastly 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.