SBI Securities Co. Ltd. Boosts Holdings in Fastly, Inc. (NYSE:FSLY)

SBI Securities Co. Ltd. lifted its stake in Fastly, Inc. (NYSE:FSLY) by 33.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,646 shares of the company’s stock after buying an additional 5,639 shares during the period. SBI Securities Co. Ltd.’s holdings in Fastly were worth $143,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Fastly by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,074,175 shares of the company’s stock worth $10,140,000 after purchasing an additional 16,533 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Fastly during the 4th quarter worth $181,000. Raymond James Financial Inc. purchased a new position in Fastly during the 4th quarter worth $3,717,000. AlphaQuest LLC grew its position in Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares during the last quarter. Finally, Swiss National Bank grew its position in Fastly by 2.2% during the 4th quarter. Swiss National Bank now owns 259,000 shares of the company’s stock worth $2,445,000 after purchasing an additional 5,500 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on FSLY. Royal Bank Of Canada raised their price objective on shares of Fastly from $5.00 to $6.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 8th. Morgan Stanley raised their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Piper Sandler raised their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, KeyCorp upgraded shares of Fastly to a “sector weight” rating in a research note on Thursday, June 5th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Fastly presently has an average rating of “Hold” and an average target price of $8.28.

Insiders Place Their Bets

In other Fastly news, CEO Todd Nightingale sold 12,547 shares of Fastly stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $7.19, for a total transaction of $90,212.93. Following the completion of the transaction, the chief executive officer owned 1,904,388 shares in the company, valued at approximately $13,692,549.72. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ronald W. Kisling sold 12,000 shares of Fastly stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $7.41, for a total transaction of $88,920.00. Following the transaction, the chief financial officer owned 635,053 shares of the company’s stock, valued at approximately $4,705,742.73. The trade was a 1.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,941 shares of company stock worth $1,123,718. Insiders own 6.70% of the company’s stock.

Fastly Stock Up 4.1%

FSLY stock opened at $7.13 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.50 and a current ratio of 1.50. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.08. The company has a fifty day moving average of $7.30 and a 200-day moving average of $7.46. The stock has a market capitalization of $1.03 billion, a PE ratio of -6.54 and a beta of 1.23.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The firm had revenue of $144.47 million during the quarter, compared to analysts’ expectations of $138.40 million. During the same quarter last year, the business earned ($0.05) earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts expect that Fastly, Inc. will post -0.78 EPS for the current year.

Fastly 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.