24,899 Shares in Fastly, Inc. (NYSE:FSLY) Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. purchased a new position in Fastly, Inc. (NYSE:FSLY) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,899 shares of the company’s stock, valued at approximately $392,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Fastly during the 2nd quarter valued at approximately $234,000. Arizona State Retirement System increased its holdings in shares of Fastly by 3.5% during the 1st quarter. Arizona State Retirement System now owns 32,075 shares of the company’s stock valued at $570,000 after purchasing an additional 1,092 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Fastly by 98,458.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 394,233 shares of the company’s stock valued at $6,217,000 after purchasing an additional 393,833 shares in the last quarter. American International Group Inc. increased its holdings in shares of Fastly by 4.2% during the 2nd quarter. American International Group Inc. now owns 57,102 shares of the company’s stock valued at $900,000 after purchasing an additional 2,310 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Fastly in the 2nd quarter worth $521,000. Institutional investors and hedge funds own 65.65% of the company’s stock.

Fastly Trading Up 4.3 %

Shares of FSLY stock opened at $18.75 on Tuesday. The company’s 50-day moving average price is $17.07 and its 200-day moving average price is $17.41. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.49. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -15.12 and a beta of 1.32. Fastly, Inc. has a twelve month low of $7.15 and a twelve month high of $24.31.

Analysts Set New Price Targets

Several brokerages recently commented on FSLY. Raymond James reissued a “strong-buy” rating and issued a $25.00 price target on shares of Fastly in a report on Thursday, October 5th. Citigroup boosted their price target on shares of Fastly from $8.00 to $10.00 and gave the stock a “sell” rating in a report on Tuesday, August 29th. Morgan Stanley boosted their price target on shares of Fastly from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Fastly from $11.00 to $12.00 and gave the stock an “underperform” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.65.

Insider Activity at Fastly

In related news, CFO Ronald W. Kisling sold 1,179 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $22.07, for a total value of $26,020.53. Following the sale, the chief financial officer now directly owns 467,648 shares in the company, valued at approximately $10,320,991.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Ronald W. Kisling sold 1,179 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $22.07, for a total value of $26,020.53. Following the sale, the chief financial officer now directly owns 467,648 shares in the company, valued at approximately $10,320,991.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Artur Bergman sold 87,225 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $23.94, for a total transaction of $2,088,166.50. Following the completion of the sale, the insider now owns 6,236,231 shares in the company, valued at $149,295,370.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 619,227 shares of company stock worth $11,055,653. Company insiders own 7.60% of the company’s stock.

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.