Sigma Planning Corp Buys Shares of 65,057 Fastly, Inc. $FSLY

Sigma Planning Corp purchased a new position in Fastly, Inc. (NYSE:FSLY) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 65,057 shares of the company’s stock, valued at approximately $1,891,000.

Other large investors have also made changes to their positions in the company. Range Financial Group LLC purchased a new position in Fastly in the 1st quarter valued at about $1,667,000. Vanguard Group Inc. boosted its position in Fastly by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after acquiring an additional 310,234 shares during the last quarter. SG Americas Securities LLC grew its stake in Fastly by 90.7% in the 1st quarter. SG Americas Securities LLC now owns 685,415 shares of the company’s stock worth $19,918,000 after acquiring an additional 326,087 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Fastly in the 1st quarter worth approximately $1,023,000. Finally, Stephens Inc. AR acquired a new position in Fastly in the 1st quarter valued at $967,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Insider Activity at Fastly

In other Fastly news, insider Scott R. Lovett sold 41,716 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $17.77, for a total transaction of $741,293.32. Following the completion of the sale, the insider owned 1,392,778 shares of the company’s stock, valued at approximately $24,749,665.06. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Lacey Compton III sold 34,334 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $16.85, for a total value of $578,527.90. Following the sale, the chief executive officer owned 1,099,561 shares of the company’s stock, valued at $18,527,602.85. This represents a 3.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 274,529 shares of company stock worth $4,761,780. 4.20% of the stock is owned by insiders.

Fastly Stock Up 1.6%

Shares of FSLY opened at $20.32 on Friday. Fastly, Inc. has a fifty-two week low of $6.29 and a fifty-two week high of $34.82. The company’s fifty day moving average is $18.29 and its two-hundred day moving average is $18.74. The firm has a market cap of $3.18 billion, a PE ratio of -21.17 and a beta of 0.34. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore assumed coverage on Fastly in a report on Tuesday, April 14th. They set an “outperform” rating and a $24.00 price objective on the stock. Piper Sandler dropped their target price on Fastly to $27.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a research report on Friday, May 8th. Citigroup lifted their price target on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada dropped their price objective on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.62.

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.