Janney Montgomery Scott LLC Makes New $1.02 Million Investment in Fastly, Inc. $FSLY

Janney Montgomery Scott LLC bought a new position in Fastly, Inc. (NYSE:FSLY) during the first quarter, HoldingsChannel.com reports. The fund bought 35,197 shares of the company’s stock, valued at approximately $1,023,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alyeska Investment Group L.P. raised its position in shares of Fastly by 2,795.2% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after purchasing an additional 4,623,767 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in Fastly during the 3rd quarter valued at about $21,174,000. Balyasny Asset Management L.P. grew its position in Fastly by 3,941.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock valued at $9,383,000 after purchasing an additional 1,296,119 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Fastly during the 4th quarter valued at about $11,657,000. Finally, Algert Global LLC increased its stake in Fastly by 288.8% during the 3rd quarter. Algert Global LLC now owns 1,521,733 shares of the company’s stock valued at $13,011,000 after purchasing an additional 1,130,293 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CTO Artur Bergman sold 32,181 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $16.85, for a total value of $542,249.85. Following the transaction, the chief technology officer directly owned 2,086,529 shares in the company, valued at $35,158,013.65. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Lacey Compton III sold 34,334 shares of Fastly stock in a transaction on Monday, May 18th. The stock was sold at an average price of $16.85, for a total value of $578,527.90. Following the completion of the sale, the chief executive officer directly owned 1,099,561 shares of the company’s stock, valued at $18,527,602.85. The trade was a 3.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 304,062 shares of company stock valued at $5,482,012 in the last ninety days. 6.70% of the stock is currently owned by company insiders.

Fastly Stock Performance

NYSE:FSLY opened at $19.59 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 12 month low of $6.29 and a 12 month high of $34.82. The company has a market cap of $3.07 billion, a PE ratio of -20.41 and a beta of 0.34. The company has a 50 day simple moving average of $18.84 and a two-hundred day simple moving average of $18.46.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FSLY. Royal Bank Of Canada decreased their target price on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a report on Tuesday, April 14th. KeyCorp raised their price target on shares of Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Piper Sandler decreased their price objective on shares of Fastly to $27.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, Evercore started coverage on Fastly in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Fastly has a consensus rating of “Hold” and a consensus price target of $22.62.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.