Wealthfront Advisers LLC Buys Shares of 7,665 Fastly, Inc. (NYSE:FSLY)

Wealthfront Advisers LLC bought a new stake in shares of Fastly, Inc. (NYSE:FSLY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,665 shares of the company’s stock, valued at approximately $72,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. AlphaQuest LLC grew its stake in shares of Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after buying an additional 2,960 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Fastly in the 4th quarter valued at approximately $3,717,000. Proficio Capital Partners LLC bought a new stake in shares of Fastly in the 4th quarter valued at approximately $181,000. Cornerstone Investment Partners LLC bought a new stake in shares of Fastly in the 4th quarter valued at approximately $249,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Fastly by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,074,175 shares of the company’s stock valued at $10,140,000 after buying an additional 16,533 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Insider Buying and Selling at Fastly

In other news, CTO Artur Bergman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.09, for a total value of $100,900.00. Following the sale, the chief technology officer now directly owns 3,434,136 shares in the company, valued at approximately $34,650,432.24. This represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ronald W. Kisling sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $125,000.00. Following the completion of the sale, the chief financial officer now owns 525,850 shares in the company, valued at approximately $5,258,500. This represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 173,699 shares of company stock valued at $1,587,050 in the last 90 days. 6.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FSLY has been the subject of several recent research reports. Citigroup boosted their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Piper Sandler restated a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Monday, December 2nd. Finally, Royal Bank of Canada reduced their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.55.

Fastly Stock Down 2.5 %

Shares of FSLY stock opened at $7.07 on Wednesday. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $14.12. The firm has a market cap of $1.01 billion, a PE ratio of -6.20 and a beta of 1.31. The stock has a 50 day moving average of $8.56 and a 200-day moving average of $8.21. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. On average, equities analysts predict that Fastly, Inc. will post -0.78 EPS for the current year.

About Fastly

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.