CenterBook Partners LP Takes $348,000 Position in Fastly, Inc. (NYSE:FSLY) (2024)

Posted by Defense World Staff on Jun 10th, 2024

CenterBook Partners LP acquired a new stake in Fastly, Inc. (NYSE:FSLY – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,559 shares of the company’s stock, valued at approximately $348,000.

Several other large investors have also made changes to their positions in FSLY. First Trust Advisors LP lifted its position in shares of Fastly by 21.8% in the fourth quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock valued at $99,443,000 after acquiring an additional 998,749 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Fastly by 13.3% in the third quarter. Legal & General Group Plc now owns 6,627,895 shares of the company’s stock valued at $127,057,000 after acquiring an additional 778,677 shares in the last quarter. Norges Bank bought a new stake in shares of Fastly in the fourth quarter worth about $8,014,000. Lord Abbett & CO. LLC bought a new stake in shares of Fastly in the third quarter worth about $7,577,000. Finally, Vanguard Group Inc. increased its holdings in shares of Fastly by 3.1% in the third quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock worth $244,075,000 after purchasing an additional 381,845 shares during the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Stock Down 3.1 %

Shares of NYSE FSLY opened at $7.48 on Monday. The business’s 50 day moving average is $10.48 and its two-hundred day moving average is $14.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83. Fastly, Inc. has a 1-year low of $7.40 and a 1-year high of $25.87.

Fastly (NYSE:FSLY – Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The firm had revenue of $133.52 million for the quarter, compared to analysts’ expectations 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 anticipate that Fastly, Inc. will post -1.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. 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 reduced their target price for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd. Citigroup reduced their target price on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Craig Hallum cut Fastly from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a report on Thursday, February 15th. Finally, Bank of America cut Fastly from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $18.00 to $8.00 in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.61.

View Our Latest Analysis on Fastly

Insider Activity

In other news, CFO Ronald W. Kisling sold 7,486 shares of the company’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 transaction of $97,318.00. Following the transaction, the chief financial officer now owns 632,736 shares of the company’s stock, valued at $8,225,568. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Todd Nightingale sold 12,163 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 value of $108,493.96. Following the completion of the sale, the chief executive officer now owns 1,729,018 shares in the company, valued at $15,422,840.56. The sale was disclosed in a document filed 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 shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the sale, the chief financial officer now owns 632,736 shares of the company’s stock, valued at approximately $8,225,568. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,020 shares of company stock valued at $1,374,439. 6.70% of the stock is currently owned by insiders.

Fastly Company 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.