Fastly, Inc. (NYSE:FSLY) Shares Acquired by Must Asset Management Inc.

Must Asset Management Inc. lifted its stake in Fastly, Inc. (NYSE:FSLY) by 77.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,264 shares of the company’s stock after purchasing an additional 45,186 shares during the period. Fastly accounts for 4.4% of Must Asset Management Inc.’s portfolio, making the stock its 6th largest position. Must Asset Management Inc. owned 0.09% of Fastly worth $6,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Northern Trust Corp increased its holdings in shares of Fastly by 13.8% in the first quarter. Northern Trust Corp now owns 460,382 shares of the company’s stock valued at $30,974,000 after purchasing an additional 55,959 shares in the last quarter. Swiss National Bank increased its holdings in shares of Fastly by 27.2% in the first quarter. Swiss National Bank now owns 234,000 shares of the company’s stock valued at $15,744,000 after purchasing an additional 50,100 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management acquired a new stake in shares of Fastly in the second quarter valued at approximately $1,135,000. Keybank National Association OH increased its holdings in shares of Fastly by 7.9% in the first quarter. Keybank National Association OH now owns 4,100 shares of the company’s stock valued at $276,000 after purchasing an additional 300 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Fastly by 1.7% during the 1st quarter. Alliancebernstein L.P. now owns 44,370 shares of the company’s stock worth $2,985,000 after acquiring an additional 750 shares during the period. 63.68% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Joshua Bixby sold 14,450 shares of the business’s stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $39.21, for a total transaction of $566,584.50. Following the transaction, the chief executive officer now directly owns 459,148 shares in the company, valued at $18,003,193.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher B. Paisley sold 1,000 shares of the business’s stock in a transaction on Monday, August 16th. The stock was sold at an average price of $41.60, for a total transaction of $41,600.00. Following the transaction, the director now owns 70,974 shares in the company, valued at $2,952,518.40. The disclosure for this sale can be found here. Insiders sold a total of 127,902 shares of company stock valued at $6,037,685 in the last 90 days. 10.32% of the stock is owned by corporate insiders.

A number of research firms have commented on FSLY. Piper Sandler lowered their target price on shares of Fastly from $45.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, August 5th. Raymond James began coverage on shares of Fastly in a report on Monday, August 9th. They set a “market perform” rating for the company. Citigroup lowered their target price on shares of Fastly from $46.00 to $33.00 and set a “sell” rating for the company in a report on Thursday, August 5th. Oppenheimer lowered shares of Fastly from an “outperform” rating to a “market perform” rating in a report on Thursday, June 10th. Finally, Zacks Investment Research raised shares of Fastly from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 10th. Four equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.69.

Shares of FSLY traded down $0.15 during midday trading on Thursday, hitting $42.50. The stock had a trading volume of 12,468 shares, compared to its average volume of 4,667,390. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of -27.17 and a beta of 1.08. The company has a 50 day simple moving average of $45.14 and a two-hundred day simple moving average of $54.26. Fastly, Inc. has a twelve month low of $33.87 and a twelve month high of $136.50. The company has a debt-to-equity ratio of 0.92, a current ratio of 9.78 and a quick ratio of 9.78.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, August 4th. The company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.19. The business had revenue of $85.03 million for the quarter, compared to analyst estimates of $85.98 million. Fastly had a negative net margin of 55.22% and a negative return on equity of 16.57%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Analysts forecast that Fastly, Inc. will post -1.68 EPS for the current fiscal year.

Fastly Company Profile

Fastly, Inc provides real-time content delivery network services. It offers edge cloud platform, edge software development kit (SDK), content delivery and image optimization, video and streaming, cloud security, load balancing, and managed CDN. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Fastly (NYSE:FSLY)

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