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

Jupiter Asset Management Ltd. purchased a new position in Fastly, Inc. (NYSE:FSLY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,899 shares of the company’s stock, valued at approximately $392,000.

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

Fastly Stock Up 4.3 %

Shares of FSLY opened at $18.75 on Tuesday. The firm has a market cap of $2.45 billion, a P/E ratio of -15.12 and a beta of 1.32. Fastly, Inc. has a 12-month low of $7.15 and a 12-month high of $24.31. 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.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several recent research reports. 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. Morgan Stanley boosted their price target on shares of Fastly from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Raymond James reissued a “strong-buy” rating and set a $25.00 price target on shares of Fastly in a research report on Thursday, October 5th. Finally, Citigroup boosted their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “sell” rating in a research report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.65.

Insiders Place Their Bets

In other Fastly news, 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 sale, the insider now directly owns 6,236,231 shares in the company, valued at $149,295,370.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Artur Bergman sold 87,225 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 6,236,231 shares in the company, valued at $149,295,370.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brett Shirk sold 31,482 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $16.24, for a total transaction of $511,267.68. Following the sale, the executive vice president now owns 271,779 shares in the company, valued at $4,413,690.96. The disclosure for this sale can be found here. Insiders have sold 619,227 shares of company stock worth $11,055,653 over the last three months. 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.