Fastly Inc (NYSE:FSLY) major shareholder Qualified Master Fund L. Abdiel bought 250,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average price of $19.92 per share, with a total value of $4,980,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
NYSE:FSLY opened at $21.00 on Thursday. Fastly Inc has a 1 year low of $14.12 and a 1 year high of $25.67. The company has a 50 day moving average of $20.19.
Fastly (NYSE:FSLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.03). The company had revenue of $46.17 million during the quarter, compared to analysts’ expectations of $45.31 million. The business’s revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.20) earnings per share. On average, sell-side analysts predict that Fastly Inc will post -0.58 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Abdiel Capital Advisors LP purchased a new position in Fastly during the 2nd quarter worth $45,696,000. Waddell & Reed Financial Inc. purchased a new position in shares of Fastly in the 2nd quarter valued at $22,879,000. Putnam Investments LLC purchased a new position in shares of Fastly in the 2nd quarter valued at $20,771,000. Vanguard Group Inc. purchased a new position in shares of Fastly in the 2nd quarter valued at $20,698,000. Finally, BlackRock Inc. purchased a new position in shares of Fastly in the 2nd quarter valued at $12,288,000. Institutional investors own 2.62% of the company’s stock.
Several analysts recently issued reports on the company. Oppenheimer began coverage on Fastly in a research report on Tuesday, June 11th. They set an “outperform” rating and a $27.00 target price for the company. Credit Suisse Group began coverage on Fastly in a research note on Tuesday, June 11th. They set an “outperform” rating and a $25.00 price target for the company. William Blair began coverage on Fastly in a research note on Tuesday, June 11th. They set an “outperform” rating for the company. Craig Hallum began coverage on Fastly in a research note on Friday, June 21st. They set a “buy” rating and a $24.00 price target for the company. Finally, Stifel Nicolaus set a $25.00 price target on Fastly and gave the company a “buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Fastly has an average rating of “Buy” and a consensus price target of $25.03.
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