Picton Mahoney Asset Management Buys New Shares in Fastly, Inc. $FSLY

Picton Mahoney Asset Management bought a new position in shares of Fastly, Inc. (NYSE:FSLY) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 91,273 shares of the company’s stock, valued at approximately $781,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLY. Byrne Asset Management LLC bought a new position in shares of Fastly in the 3rd quarter valued at about $43,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Fastly in the 3rd quarter valued at about $56,000. State of Alaska Department of Revenue bought a new stake in shares of Fastly in the 3rd quarter valued at about $57,000. Geneos Wealth Management Inc. acquired a new stake in Fastly in the 1st quarter valued at about $52,000. Finally, LeConte Wealth Management LLC bought a new position in Fastly during the third quarter worth about $92,000. 79.71% of the stock is owned by institutional investors.

Insider Transactions at Fastly

In other 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Lacey Compton III sold 73,206 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $20.94, for a total value of $1,532,933.64. Following the transaction, the chief executive officer owned 875,831 shares in the company, valued at approximately $18,339,901.14. This trade represents a 7.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,090,695 shares of company stock worth $16,399,868 over the last quarter. Company insiders own 6.70% of the company’s stock.

Fastly Stock Down 1.5%

Shares of FSLY opened at $20.14 on Friday. The firm has a market cap of $3.06 billion, a P/E ratio of -20.98 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $21.75. The firm’s 50-day simple moving average is $12.58 and its 200 day simple moving average is $10.42.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of recent analyst reports. Oppenheimer started coverage on Fastly in a research report on Monday, November 17th. They set a “market perform” rating on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $14.00 price objective (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Citigroup lifted their target price on Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. KeyCorp raised Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a report on Monday, December 15th. Finally, Royal Bank Of Canada increased their price target on Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Three equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.14.

Trending Headlines about Fastly

Here are the key news stories impacting Fastly this week:

• Positive Sentiment: One-week momentum: Zacks notes FSLY rose ~5.75% over the past week, which can attract momentum or short-term traders and support near-term liquidity and sentiment. Fastly (FSLY) Is Up 5.75% in One Week: What You Should Know
• Positive Sentiment: Analyst/institutional color: Recent analyst moves (RBC raised its price objective, KeyCorp and William Blair issued more positive notes) and some small institutional buys have helped underpin the recovery narrative versus the prior year’s lows. That analyst chatter can provide support if earnings/guide match expectations. MarketBeat FSLY Coverage
• Neutral Sentiment: Industry backdrop: A Manila Standard piece highlights an “AI speed tax” — higher compute/network costs for AI workloads. For Fastly (edge cloud/CDN), higher demand from AI could be revenue-positive but may also raise operating/capex pressure; net impact is uncertain and depends on how Fastly prices/monetizes edge AI services. AI businesses paying an ‘AI Speed Tax’
• Negative Sentiment: Significant insider selling: Multiple insiders sold substantial blocks on March 4 (CEO Charles Lacey Compton III sold ~73k shares; CTO Artur Bergman sold ~24.5k shares, plus a series of prior sales). Large, clustered insider sales can sap investor confidence and add selling pressure even if some sales are for diversification or taxes. Insider Selling: Fastly (NYSE:FSLY) CTO Sells 24,532 Shares of Stock SEC Form 4 — CEO Sale

Fastly Profile

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.