Capstone Investment Advisors LLC Has $2.85 Million Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Capstone Investment Advisors LLC trimmed its position in Fastly, Inc. (NYSE:FSLY) by 92.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,802 shares of the company’s stock after selling 4,660,954 shares during the quarter. Capstone Investment Advisors LLC owned 0.27% of Fastly worth $2,845,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in shares of Fastly in the second quarter valued at approximately $38,000. Cambridge Trust Co. acquired a new stake in shares of Fastly during the 1st quarter worth $39,000. FMR LLC grew its holdings in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares in the last quarter. EMC Capital Management increased its position in shares of Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after purchasing an additional 6,000 shares during the period. Finally, Cape Investment Advisory Inc. lifted its position in Fastly by 27,666.7% during the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after purchasing an additional 4,150 shares during the period. Institutional investors own 79.71% of the company’s stock.

Fastly Trading Down 0.4 %

Fastly stock opened at $7.92 on Friday. The business has a 50 day moving average of $7.36 and a 200-day moving average of $7.28. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.33) EPS. On average, analysts anticipate that Fastly, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on FSLY shares. DA Davidson raised their target price on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley reduced their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Piper Sandler boosted their price target on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Craig Hallum lifted their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.94.

Insiders Place Their Bets

In related news, CFO Ronald W. Kisling sold 16,102 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $100,637.50. Following the transaction, the chief financial officer now owns 542,462 shares in the company, valued at $3,390,387.50. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 19,889 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total transaction of $118,538.44. Following the completion of the sale, the chief technology officer now owns 6,205,000 shares of the company’s stock, valued at $36,981,800. The trade was a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,439 shares of company stock valued at $1,209,560. 6.70% of the stock is currently owned by company insiders.

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.