Legal & General Group Plc Decreases Holdings in Fastly, Inc. $FSLY

Legal & General Group Plc cut its holdings in shares of Fastly, Inc. (NYSE:FSLY) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,605,712 shares of the company’s stock after selling 180,990 shares during the quarter. Legal & General Group Plc owned 0.06% of Fastly worth $87,564,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in FSLY. Quarry LP purchased a new position in shares of Fastly during the third quarter worth approximately $49,000. Geneos Wealth Management Inc. purchased a new position in shares of Fastly during the first quarter worth approximately $52,000. Acadian Asset Management LLC purchased a new position in shares of Fastly during the first quarter worth approximately $78,000. Oxford Asset Management LLP purchased a new position in shares of Fastly during the second quarter worth approximately $83,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Fastly by 64.4% during the second quarter. Tower Research Capital LLC TRC now owns 14,475 shares of the company’s stock worth $102,000 after acquiring an additional 5,670 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Stock Performance

Shares of Fastly stock opened at $17.76 on Friday. 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 firm has a market capitalization of $2.78 billion, a P/E ratio of -18.50 and a beta of 0.49. The business has a fifty day simple moving average of $24.13 and a two-hundred day simple moving average of $16.86. Fastly, Inc. has a 12 month low of $6.29 and a 12 month high of $34.82.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. DA Davidson set a $13.00 price target on shares of Fastly in a research note on Thursday, February 12th. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a report on Tuesday, April 14th. KeyCorp raised their target price on shares of Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Raymond James Financial upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a report on Friday, May 8th. Finally, Citigroup raised their target price on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.63.

Insider Buying and Selling at Fastly

In other Fastly news, insider Scott R. Lovett sold 73,715 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $21.06, for a total transaction of $1,552,437.90. Following the completion of the transaction, the insider owned 1,580,513 shares of the company’s stock, valued at approximately $33,285,603.78. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Lacey Compton III sold 73,206 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $20.94, for a total value of $1,532,933.64. Following the transaction, the chief executive officer directly owned 875,831 shares of the company’s stock, valued at $18,339,901.14. This represents a 7.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,064,445 shares of company stock valued at $22,464,210. 6.70% of the stock is currently owned by company insiders.

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.