22,980 Shares in Fastly, Inc. (NYSE:FSLY) Bought by Ables Iannone Moore & Associates Inc.

Ables Iannone Moore & Associates Inc. acquired a new position in shares of Fastly, Inc. (NYSE:FSLY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,980 shares of the company’s stock, valued at approximately $409,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hanseatic Management Services Inc. bought a new position in Fastly in the third quarter valued at about $33,000. 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 buying an additional 1,975 shares during the last quarter. Hollencrest Capital Management bought a new position in Fastly during the third quarter worth about $58,000. International Assets Investment Management LLC bought a new position in Fastly during the fourth quarter worth about $61,000. Finally, Quest Partners LLC bought a new position in Fastly during the fourth quarter worth about $102,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Stock Down 1.7 %

Fastly stock traded down $0.12 during midday trading on Monday, reaching $7.08. The stock had a trading volume of 3,174,849 shares, compared to its average volume of 3,987,484. The firm’s fifty day simple moving average is $9.94 and its 200-day simple moving average is $14.45. Fastly, Inc. has a 1-year low of $6.91 and a 1-year high of $25.87. The stock has a market capitalization of $967.40 million, a P/E ratio of -7.08 and a beta of 1.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.83 and a current ratio of 3.83.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.02. The firm had revenue of $133.52 million for the quarter, compared to analyst estimates of $133.01 million. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. As a group, analysts expect that Fastly, Inc. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on FSLY shares. Royal Bank of Canada reduced their target price on Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. DA Davidson cut Fastly from a “buy” rating to a “neutral” rating and cut their price objective for the company from $24.00 to $8.50 in a report on Thursday, May 2nd. Piper Sandler upgraded Fastly from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $19.00 to $16.00 in a report on Monday, April 8th. Citigroup cut their price objective on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Finally, Bank of America cut Fastly from a “buy” rating to an “underperform” rating and cut their price objective for the company from $18.00 to $8.00 in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.61.

Insiders Place Their Bets

In other Fastly news, CFO Ronald W. Kisling sold 2,919 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $8.92, for a total transaction of $26,037.48. Following the transaction, the chief financial officer now owns 606,712 shares of the company’s stock, valued at approximately $5,411,871.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fastly news, CFO Ronald W. Kisling sold 2,919 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $8.92, for a total transaction of $26,037.48. Following the transaction, the chief financial officer now owns 606,712 shares of the company’s stock, valued at approximately $5,411,871.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 7,486 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total value of $97,318.00. Following the transaction, the chief financial officer now directly owns 632,736 shares in the company, valued at approximately $8,225,568. The disclosure for this sale can be found here. Insiders have sold 135,254 shares of company stock valued at $1,276,122 in the last 90 days. 6.70% of the stock is currently owned by insiders.

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.