Wellington Management Group LLP Acquires New Position in Fastly Inc (NYSE:FSLY)

Wellington Management Group LLP bought a new stake in shares of Fastly Inc (NYSE:FSLY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 16,477 shares of the company’s stock, valued at approximately $313,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Group Inc. increased its position in Fastly by 137.5% during the 4th quarter. Advisor Group Inc. now owns 1,425 shares of the company’s stock valued at $29,000 after purchasing an additional 825 shares during the period. Legal & General Group Plc acquired a new stake in Fastly during the 1st quarter valued at approximately $49,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Fastly during the 1st quarter valued at approximately $57,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Fastly by 127.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,023 shares of the company’s stock valued at $76,000 after acquiring an additional 2,254 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in Fastly during the 4th quarter valued at approximately $112,000. 39.11% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on FSLY. Piper Sandler boosted their target price on shares of Fastly from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Zacks Investment Research cut shares of Fastly from a “buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Robert W. Baird upped their target price on shares of Fastly from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Bank of America upped their target price on shares of Fastly from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Citigroup upped their target price on shares of Fastly from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.11.

In related news, CFO Adriel G. Lares sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $21.92, for a total value of $87,680.00. Following the sale, the chief financial officer now owns 99,098 shares of the company’s stock, valued at $2,172,228.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Adriel G. Lares sold 1,132 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $41.45, for a total transaction of $46,921.40. Following the completion of the sale, the chief financial officer now directly owns 210,040 shares in the company, valued at approximately $8,706,158. The disclosure for this sale can be found here. Insiders have sold 292,553 shares of company stock worth $8,100,925 in the last three months. Corporate insiders own 24.33% of the company’s stock.

Shares of FSLY opened at $85.13 on Wednesday. The stock has a market capitalization of $8.83 billion and a PE ratio of -127.06. Fastly Inc has a 1 year low of $10.63 and a 1 year high of $89.05. The company’s 50-day simple moving average is $51.14 and its 200-day simple moving average is $28.68.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.11. The business had revenue of $63.00 million for the quarter, compared to analyst estimates of $59.40 million. Fastly’s revenue was up 38.2% compared to the same quarter last year. On average, equities research analysts forecast that Fastly Inc will post -0.38 EPS for the current year.

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Institutional Ownership by Quarter for Fastly (NYSE:FSLY)

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