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

Duality Advisers LP bought a new position in shares of Fastly, Inc. (NYSE:FSLY) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 57,076 shares of the company’s stock, valued at approximately $1,016,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hanseatic Management Services Inc. acquired a new position in Fastly in the third quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Fastly during the 3rd quarter worth approximately $36,000. Allworth Financial LP boosted its holdings in Fastly by 1,420.9% during the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after purchasing an additional 1,975 shares during the last quarter. Hollencrest Capital Management acquired a new stake in Fastly in the 3rd quarter valued at $58,000. Finally, Strs Ohio bought a new position in shares of Fastly in the 3rd quarter valued at about $65,000. 79.71% of the stock is owned by institutional investors.

Fastly Price Performance

Shares of FSLY stock opened at $12.89 on Wednesday. Fastly, Inc. has a 12-month low of $11.61 and a 12-month high of $25.87. The firm has a 50 day moving average price of $13.69 and a two-hundred day moving average price of $16.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14.

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

Insider Activity

In related news, insider Artur Bergman sold 21,875 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $21.03, for a total transaction of $460,031.25. Following the transaction, the insider now directly owns 6,079,994 shares of the company’s stock, valued at $127,862,273.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Artur Bergman sold 21,875 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $21.03, for a total value of $460,031.25. Following the completion of the transaction, the insider now owns 6,079,994 shares of the company’s stock, valued at $127,862,273.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 50,708 shares of Fastly stock in a transaction that occurred 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 directly owns 1,371,348 shares in the company, valued at $22,064,989.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,076 shares of company stock valued at $3,620,434. 7.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Fastly Company 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.