Tudor Investment Corp ET AL Trims Position in Fastly, Inc. $FSLY

Tudor Investment Corp ET AL reduced its position in Fastly, Inc. (NYSE:FSLY) by 85.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 15,595 shares of the company’s stock after selling 94,752 shares during the period. Tudor Investment Corp ET AL’s holdings in Fastly were worth $133,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FSLY. Byrne Asset Management LLC purchased a new stake in shares of Fastly in the third quarter valued at $43,000. Quarry LP purchased a new stake in Fastly in the 3rd quarter valued at about $49,000. Geneos Wealth Management Inc. acquired a new position in shares of Fastly during the 1st quarter valued at about $52,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Fastly during the 3rd quarter worth about $56,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Fastly in the third quarter worth approximately $57,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FSLY shares. KeyCorp upgraded shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price for the company in a report on Monday, December 15th. Citigroup lifted their price target on shares of Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 13th. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. DA Davidson set a $13.00 target price on Fastly in a research report on Thursday, February 12th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $14.00 target price (up from $11.00) on shares of Fastly in a report on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fastly has a consensus rating of “Hold” and an average target price of $13.14.

Insiders Place Their Bets

In related news, insider Scott R. Lovett sold 41,682 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $26.45, for a total transaction of $1,102,488.90. Following the completion of the sale, the insider directly owned 1,503,878 shares of the company’s stock, valued at approximately $39,777,573.10. This represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Artur Bergman sold 265,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $22.79, for a total value of $6,039,350.00. Following the completion of the transaction, the chief technology officer directly owned 1,604,901 shares in the company, valued at $36,575,693.79. This trade represents a 14.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,538,702 shares of company stock worth $29,349,355 over the last ninety days. 6.70% of the stock is owned by company insiders.

Fastly Stock Up 3.5%

FSLY opened at $33.50 on Friday. Fastly, Inc. has a 1 year low of $4.65 and a 1 year high of $34.22. The firm has a 50 day moving average price of $19.05 and a 200 day moving average price of $12.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $5.09 billion, a PE ratio of -34.90 and a beta of 0.88.

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.