Knights of Columbus Asset Advisors LLC Sells 37,914 Shares of Fastly, Inc. $FSLY

Knights of Columbus Asset Advisors LLC reduced its position in shares of Fastly, Inc. (NASDAQ:FSLY) by 35.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,260 shares of the company’s stock after selling 37,914 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Fastly were worth $1,778,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its holdings in Fastly by 98,700.0% during the 3rd quarter. Signaturefd LLC now owns 988 shares of the company’s stock valued at $25,000 after purchasing an additional 987 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after buying an additional 633 shares in the last quarter. IFP Advisors Inc lifted its holdings in Fastly by 1,621.7% in the 2nd quarter. IFP Advisors Inc now owns 1,429 shares of the company’s stock worth $26,000 after buying an additional 1,346 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Fastly by 38.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,510 shares of the company’s stock worth $39,000 after buying an additional 419 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Fastly by 39.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock worth $64,000 after buying an additional 627 shares in the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FSLY. KeyCorp reissued an “overweight” rating and issued a $30.00 price objective on shares of Fastly in a research report on Friday, September 18th. Bank of America lifted their target price on Fastly from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 23rd. Freedom Broker cut their price target on Fastly from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday. Canaccord Genuity Group started coverage on Fastly in a research note on Friday, July 17th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Citigroup reduced their price target on Fastly from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Fastly has an average rating of “Hold” and an average target price of $26.00.

Insider Activity at Fastly

In other news, CFO Richard Wong sold 148,015 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $28.61, for a total value of $4,234,709.15. Following the completion of the sale, the chief financial officer owned 1,091,286 shares of the company’s stock, valued at approximately $31,221,692.46. The trade was a 11.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 379,602 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $30.16, for a total transaction of $11,448,796.32. Following the completion of the sale, the chief technology officer owned 1,138,358 shares in the company, valued at approximately $34,332,877.28. This trade represents a 25.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,323,893 shares of company stock worth $35,452,889 over the last 90 days. Company insiders own 4.20% of the company’s stock.

Fastly Trading Up 6.3%

FSLY stock opened at $17.26 on Thursday. Fastly, Inc. has a twelve month low of $7.87 and a twelve month high of $34.82. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.07 and a quick ratio of 3.07. The firm has a 50 day simple moving average of $23.62 and a 200-day simple moving average of $21.63.

Fastly (NASDAQ:FSLY) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $190.19 million during the quarter, compared to analyst estimates of $187.82 million. Fastly had a negative net margin of 8.74% and a negative return on equity of 4.53%. As a group, sell-side analysts expect that Fastly, Inc. will post -0.27 EPS for the current year.

Fastly Profile

Fastly, Inc. provides an edge cloud platform that helps businesses deliver and secure websites, applications, and digital content. Its services include content delivery, web application and API protection, DDoS mitigation, bot management, and tools for monitoring and analyzing internet traffic. The company also offers edge computing through Fastly Compute, which lets developers run code closer to users. Fastly’s platform is designed to help organizations improve the speed, reliability, and security of online services, and it serves customers across multiple industries and geographies.