Duality Advisers LP Invests $1.02 Million in Fastly, Inc. (NYSE:FSLY)

Duality Advisers LP purchased a new position in shares of Fastly, Inc. (NYSE:FSLY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 57,076 shares of the company’s stock, valued at approximately $1,016,000.

A number of other institutional investors also recently bought and sold shares of the business. Legal & General Group Plc increased its holdings in shares of Fastly by 13.3% in the 3rd quarter. Legal & General Group Plc now owns 6,627,895 shares of the company’s stock valued at $127,057,000 after purchasing an additional 778,677 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in Fastly in the third quarter valued at $8,327,000. Lord Abbett & CO. LLC purchased a new position in shares of Fastly in the third quarter valued at $7,577,000. Vanguard Group Inc. raised its stake in shares of Fastly by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock worth $244,075,000 after buying an additional 381,845 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Fastly by 77.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock valued at $14,902,000 after acquiring an additional 339,820 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America cut their target price on shares of Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Citigroup raised Fastly from a “sell” rating to a “neutral” rating and raised their price target for the stock from $11.00 to $20.00 in a research report on Monday, January 22nd. Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and cut their target price for the company from $19.00 to $16.00 in a research note on Monday, April 8th. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research note on Thursday, February 15th. Finally, Royal Bank of Canada raised shares of Fastly from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $12.00 to $18.00 in a research report on Monday, January 8th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.11.

Fastly Stock Up 2.8 %

FSLY opened at $12.89 on Wednesday. The company has a 50 day moving average of $13.69 and a two-hundred day moving average of $16.40. Fastly, Inc. has a 52-week low of $11.61 and a 52-week high of $25.87. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05. The firm had revenue of $137.78 million during the quarter, compared to the consensus estimate of $139.25 million. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. On average, sell-side analysts predict that Fastly, Inc. will post -1.07 EPS for the current fiscal year.

Insider Activity

In related news, CEO Todd Nightingale sold 50,708 shares of Fastly stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.09, for a total transaction of $815,891.72. Following the sale, the chief executive officer now owns 1,371,348 shares of the company’s stock, valued at approximately $22,064,989.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Fastly news, CEO Todd Nightingale sold 50,708 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.09, for a total value of $815,891.72. Following the transaction, the chief executive officer now directly owns 1,371,348 shares of the company’s stock, valued at approximately $22,064,989.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ronald W. Kisling sold 12,235 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.09, for a total transaction of $196,861.15. Following the sale, the chief financial officer now directly owns 450,449 shares of the company’s stock, valued at approximately $7,247,724.41. The disclosure for this sale can be found here. Insiders have sold 221,076 shares of company stock worth $3,620,434 over the last 90 days. Company insiders own 7.60% of the company’s stock.

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.