Goldman Sachs Group Inc. lifted its position in Fastly Inc (NYSE:FSLY) by 12,226.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,108,720 shares of the company’s stock after buying an additional 2,091,613 shares during the period. Goldman Sachs Group Inc. owned about 2.25% of Fastly worth $42,322,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLY. FMR LLC increased its position in shares of Fastly by 645.6% in the 4th quarter. FMR LLC now owns 2,307,034 shares of the company’s stock valued at $46,302,000 after buying an additional 1,997,618 shares in the last quarter. FIL Ltd bought a new stake in shares of Fastly in the 4th quarter valued at $17,390,000. Gilder Gagnon Howe & Co. LLC increased its position in shares of Fastly by 89.0% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 565,468 shares of the company’s stock valued at $13,571,000 after buying an additional 266,271 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in Fastly by 894.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 248,580 shares of the company’s stock worth $4,989,000 after purchasing an additional 223,580 shares during the period. Finally, Eaton Vance Management acquired a new position in Fastly in the 4th quarter worth $3,922,000. Institutional investors and hedge funds own 34.42% of the company’s stock.
A number of research firms have recently commented on FSLY. Zacks Investment Research downgraded shares of Fastly from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Piper Jaffray Companies upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and set a $24.00 price objective for the company in a research note on Thursday, January 2nd. Piper Sandler increased their price objective on shares of Fastly from to in a research note on Friday, February 21st. Finally, ValuEngine raised shares of Fastly from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $25.49.
Shares of FSLY stock opened at $17.95 on Thursday. The firm’s 50-day moving average is $19.69 and its 200-day moving average is $21.84. The stock has a market cap of $1.33 billion and a price-to-earnings ratio of -25.64. Fastly Inc has a 52-week low of $10.63 and a 52-week high of $35.25.
Fastly (NYSE:FSLY) last issued its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.01. The firm had revenue of $58.94 million during the quarter, compared to the consensus estimate of $55.14 million. As a group, research analysts anticipate that Fastly Inc will post -0.62 EPS for the current fiscal year.
In other Fastly news, major shareholder W Eric Carlborg sold 50,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $21.30, for a total value of $1,065,000.00. Following the transaction, the insider now directly owns 115,245 shares of the company’s stock, valued at approximately $2,454,718.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Joshua Bixby sold 10,000 shares of the stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $20.11, for a total transaction of $201,100.00. Following the completion of the transaction, the president now directly owns 116,408 shares in the company, valued at $2,340,964.88. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 860,009 shares of company stock worth $13,190,446 and sold 512,765 shares worth $11,149,570.
Recommended Story: What is a Stop Order?
Receive News & Ratings for Fastly Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastly and related companies with MarketBeat.com's FREE daily email newsletter.