Cornerstone Investment Partners LLC Makes New Investment in Fastly, Inc. (NYSE:FSLY)

Cornerstone Investment Partners LLC purchased a new position in shares of Fastly, Inc. (NYSE:FSLY) during the fourth quarter, HoldingsChannel reports. The firm purchased 26,403 shares of the company’s stock, valued at approximately $249,000.

Other institutional investors have also recently bought and sold shares of the company. Entropy Technologies LP boosted its holdings in shares of Fastly by 118.7% during the third quarter. Entropy Technologies LP now owns 39,803 shares of the company’s stock worth $301,000 after acquiring an additional 21,600 shares during the period. Aigen Investment Management LP bought a new stake in shares of Fastly during the third quarter worth approximately $89,000. Intech Investment Management LLC bought a new stake in shares of Fastly during the third quarter worth approximately $328,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fastly by 18.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after acquiring an additional 161,070 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in shares of Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after buying an additional 801,968 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Stock Down 4.0 %

NYSE FSLY opened at $6.54 on Tuesday. The business has a fifty day moving average price of $9.20 and a two-hundred day moving average price of $8.17. The stock has a market capitalization of $917.56 million, a PE ratio of -5.74 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $14.76.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Equities analysts expect that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total value of $57,059.10. Following the completion of the sale, the chief financial officer now directly owns 519,812 shares in the company, valued at $4,912,223.40. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Artur Bergman sold 29,641 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $10.02, for a total value of $297,002.82. Following the completion of the sale, the chief technology officer now owns 6,058,595 shares of the company’s stock, valued at $60,707,121.90. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,436 shares of company stock worth $1,888,395. Corporate insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

FSLY has been the subject of several recent research reports. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Monday, December 2nd. Piper Sandler reiterated a “neutral” rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Royal Bank of Canada cut their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. DA Davidson boosted their price target on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Craig Hallum upped their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.55.

Fastly Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.