Meitav Dash Investments Ltd. acquired a new position in Fastly Inc (NYSE:FSLY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,887 shares of the company’s stock, valued at approximately $1,523,000.
Several other institutional investors also recently made changes to their positions in FSLY. Global Retirement Partners LLC grew its position in Fastly by 6,880.0% during the second quarter. Global Retirement Partners LLC now owns 349 shares of the company’s stock worth $30,000 after buying an additional 344 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Fastly during the 2nd quarter worth approximately $32,000. Knuff & Co LLC increased its position in shares of Fastly by 17.6% during the second quarter. Knuff & Co LLC now owns 2,000 shares of the company’s stock valued at $38,000 after purchasing an additional 300 shares during the period. Sterling Investment Advisors Ltd. acquired a new position in shares of Fastly in the second quarter valued at $42,000. Finally, Optimum Investment Advisors bought a new position in Fastly in the second quarter worth $43,000. Institutional investors and hedge funds own 36.85% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Citigroup cut shares of Fastly from a “neutral” rating to a “sell” rating in a research note on Thursday, July 9th. Zacks Investment Research downgraded Fastly from a “buy” rating to a “hold” rating in a research report on Thursday, August 6th. FBN Securities started coverage on shares of Fastly in a report on Wednesday. They issued an “outperform” rating and a $90.00 target price on the stock. Robert W. Baird lifted their price target on shares of Fastly from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Credit Suisse Group boosted their price target on shares of Fastly from $32.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.45.
Shares of FSLY traded up $8.90 during midday trading on Thursday, hitting $88.24. The stock had a trading volume of 530,486 shares, compared to its average volume of 10,260,658. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of -160.73 and a beta of 1.11. The company has a 50 day simple moving average of $84.91 and a two-hundred day simple moving average of $44.26. Fastly Inc has a twelve month low of $10.63 and a twelve month high of $117.79.
Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.09. On average, sell-side analysts predict that Fastly Inc will post -0.48 earnings per share for the current fiscal year.
In related news, CFO Adriel G. Lares sold 4,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $51.12, for a total value of $204,480.00. Following the completion of the transaction, the chief financial officer now owns 214,040 shares of the company’s stock, valued at $10,941,724.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Artur Bergman sold 92,308 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $79.09, for a total transaction of $7,300,639.72. Following the sale, the insider now directly owns 571,650 shares of the company’s stock, valued at approximately $45,211,798.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 815,091 shares of company stock valued at $64,345,071. 24.33% of the stock is currently owned by corporate insiders.
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