Fastly, Inc. $FSLY Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL cut its stake in shares of Fastly, Inc. (NYSE:FSLY) by 85.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,595 shares of the company’s stock after selling 94,752 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Fastly were worth $133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSLY. Arizona State Retirement System increased its stake in shares of Fastly by 3.2% during the third quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock worth $348,000 after acquiring an additional 1,253 shares during the period. Parallax Volatility Advisers L.P. increased its position in Fastly by 13.8% during the 3rd quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock worth $103,000 after purchasing an additional 1,465 shares during the period. Savant Capital LLC increased its position in Fastly by 27.6% during the 3rd quarter. Savant Capital LLC now owns 18,721 shares of the company’s stock worth $160,000 after purchasing an additional 4,051 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Fastly by 34.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,816 shares of the company’s stock worth $130,000 after buying an additional 4,059 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Fastly by 25.9% in the 3rd quarter. Bank of Nova Scotia now owns 21,743 shares of the company’s stock valued at $186,000 after buying an additional 4,479 shares during the period. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSLY has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on Fastly from $12.00 to $20.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. DA Davidson set a $13.00 target price on shares of Fastly in a research report on Thursday, February 12th. Citigroup upped their price target on shares of Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Piper Sandler reiterated a “neutral” rating and set a $14.00 price target (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Finally, William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.14.

Insider Buying and Selling

In related news, insider Scott R. Lovett sold 73,715 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $21.06, for a total value of $1,552,437.90. Following the sale, the insider owned 1,580,513 shares of the company’s stock, valued at approximately $33,285,603.78. This represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 275,234 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $20.56, for a total value of $5,658,811.04. Following the sale, the chief technology officer owned 1,909,901 shares in the company, valued at approximately $39,267,564.56. This trade represents a 12.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,538,702 shares of company stock worth $29,349,355 in the last ninety days. Insiders own 6.70% of the company’s stock.

Fastly Stock Performance

Shares of FSLY opened at $33.50 on Friday. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $34.22. The stock has a market cap of $5.09 billion, a P/E ratio of -34.90 and a beta of 0.88. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $19.05 and a two-hundred day moving average of $12.92.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.