JPMorgan Chase & Co. Sells 149,943 Shares of Fastly, Inc. $FSLY

JPMorgan Chase & Co. decreased its holdings in shares of Fastly, Inc. (NYSE:FSLY) by 44.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 184,809 shares of the company’s stock after selling 149,943 shares during the period. JPMorgan Chase & Co. owned approximately 0.12% of Fastly worth $1,580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Arizona State Retirement System boosted its stake in shares of Fastly by 3.2% during the 3rd quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock worth $348,000 after buying an additional 1,253 shares during the last quarter. Parallax Volatility Advisers L.P. boosted its stake in shares of 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 buying an additional 1,465 shares during the last quarter. Savant Capital LLC boosted its stake in shares of 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 buying an additional 4,051 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted 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 during the last quarter. Finally, Bank of Nova Scotia boosted its stake in shares of Fastly by 25.9% during the 3rd quarter. Bank of Nova Scotia now owns 21,743 shares of the company’s stock worth $186,000 after buying an additional 4,479 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DA Davidson set a $13.00 price objective on shares of Fastly in a research note on Thursday, February 12th. KeyCorp raised shares of 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. Citigroup raised their target price on shares of Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Royal Bank Of Canada raised their target price on shares of Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Finally, William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.14.

Fastly Trading Up 3.6%

Shares of NYSE:FSLY opened at $32.75 on Thursday. Fastly, Inc. has a 52-week low of $4.90 and a 52-week high of $34.82. The company has a market capitalization of $4.97 billion, a P/E ratio of -34.11 and a beta of 0.62. The company has a 50-day simple moving average of $20.85 and a 200 day simple moving average of $13.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Insider Activity at Fastly

In related news, insider Scott R. Lovett sold 41,682 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $26.45, for a total value of $1,102,488.90. Following the completion of the sale, the insider directly owned 1,503,878 shares in the company, valued at approximately $39,777,573.10. This trade represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Lacey Compton III sold 36,694 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $20.69, for a total transaction of $759,198.86. Following the completion of the sale, the chief executive officer owned 1,212,778 shares of the company’s stock, valued at $25,092,376.82. This trade represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,498,702 shares of company stock worth $28,938,555. Insiders own 6.70% of the company’s stock.

Fastly Company 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.