CenterBook Partners LP Makes New Investment in Fastly, Inc. (NYSE:FSLY) (2024)

Posted by MarketBeat News on Jun 10th, 2024

CenterBook Partners LP bought a new position in Fastly, Inc. (NYSE:FSLY – Free Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 19,559 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors have also bought and sold shares of the business. First Trust Advisors LP lifted its stake in Fastly by 21.8% in the 4th quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after purchasing an additional 998,749 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Fastly by 4.6% during the 4th quarter. Rafferty Asset Management LLC now owns 83,084 shares of the company’s stock worth $1,479,000 after buying an additional 3,641 shares during the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Fastly by 41,123.8% during the 4th quarter. TFO Wealth Partners LLC now owns 8,657 shares of the company’s stock worth $154,000 after buying an additional 8,636 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Fastly by 119.5% during the 4th quarter. Neuberger Berman Group LLC now owns 114,708 shares of the company’s stock worth $2,042,000 after buying an additional 62,456 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Fastly during the 4th quarter worth approximately $379,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FSLY. Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and cut their price target for the stock from $18.00 to $8.00 in a report on Thursday, May 2nd. Royal Bank of Canada cut their price target on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $19.00 to $16.00 in a report on Monday, April 8th. Citigroup cut their price target on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.61.

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Insiders Place Their Bets

In other Fastly news, CFO Ronald W. Kisling sold 2,919 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $8.92, for a total value of $26,037.48. Following the completion of the transaction, the chief financial officer now owns 606,712 shares in the company, valued at $5,411,871.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fastly news, CFO Ronald W. Kisling sold 2,919 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $8.92, for a total value of $26,037.48. Following the completion of the transaction, the chief financial officer now owns 606,712 shares in the company, valued at $5,411,871.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Devon Daniels sold 7,766 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $12.66, for a total transaction of $98,317.56. Following the completion of the transaction, the director now owns 34,328 shares of the company’s stock, valued at approximately $434,592.48. The disclosure for this sale can be found here. Insiders sold a total of 143,020 shares of company stock worth $1,374,439 over the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Fastly Trading Down 3.1 %

Fastly stock opened at $7.48 on Monday. The firm has a 50 day moving average price of $10.48 and a 200 day moving average price of $14.82. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.35. Fastly, Inc. has a fifty-two week low of $7.40 and a fifty-two week high of $25.87.

Fastly (NYSE:FSLY – Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. The business had revenue of $133.52 million during the quarter, compared to the consensus estimate of $133.01 million. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. Analysts forecast that Fastly, Inc. will post -1.08 EPS for the current fiscal year.

Fastly Profile

(Free Report)

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.