Zweig DiMenna Associates LLC Takes Position in Fastly, Inc. (NYSE:FSLY)

Zweig DiMenna Associates LLC purchased a new stake in Fastly, Inc. (NYSE:FSLYGet Rating) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 261,543 shares of the company’s stock, valued at approximately $4,546,000. Zweig DiMenna Associates LLC owned about 0.22% of Fastly as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of FSLY. Allegheny Financial Group LTD bought a new position in shares of Fastly in the 4th quarter valued at $46,000. Benjamin Edwards Inc. bought a new position in shares of Fastly in the 4th quarter valued at $75,000. Calixto Global Investors LP bought a new position in shares of Fastly in the 4th quarter valued at $86,000. Lazard Asset Management LLC bought a new stake in Fastly during the 4th quarter worth $165,000. Finally, Envestnet Asset Management Inc. bought a new stake in Fastly during the 4th quarter worth $248,000. Institutional investors own 65.08% of the company’s stock.

In other news, CFO Ronald W. Kisling sold 5,083 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $19.06, for a total value of $96,881.98. Following the completion of the transaction, the chief financial officer now directly owns 305,968 shares of the company’s stock, valued at $5,831,750.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brett Shirk sold 3,008 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $10.54, for a total value of $31,704.32. Following the completion of the transaction, the executive vice president now directly owns 304,223 shares of the company’s stock, valued at $3,206,510.42. The disclosure for this sale can be found here. Insiders have sold a total of 43,368 shares of company stock valued at $550,852 over the last three months. Corporate insiders own 8.90% of the company’s stock.

FSLY traded up $0.44 during midday trading on Tuesday, reaching $12.49. 41,401 shares of the company were exchanged, compared to its average volume of 4,408,235. The company has a debt-to-equity ratio of 0.99, a quick ratio of 5.26 and a current ratio of 5.26. The company’s fifty day moving average price is $12.58 and its 200 day moving average price is $19.97. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -5.77 and a beta of 1.49. Fastly, Inc. has a one year low of $9.50 and a one year high of $59.40.

Fastly (NYSE:FSLYGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The company had revenue of $102.40 million for the quarter, compared to the consensus estimate of $98.94 million. Fastly had a negative return on equity of 20.82% and a negative net margin of 63.54%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share. As a group, sell-side analysts anticipate that Fastly, Inc. will post -1.89 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on FSLY shares. Morgan Stanley reduced their price objective on Fastly from $25.00 to $18.00 in a research report on Thursday, May 5th. Bank of America reduced their price objective on Fastly from $28.00 to $16.00 in a research report on Tuesday, March 22nd. Finally, Citigroup reduced their price objective on Fastly from $22.00 to $14.00 and set a “sell” rating on the stock in a research report on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.13.

Fastly Company Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Fastly (NYSE:FSLY)

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