The Vanguard Group, Inc. recently announced the acquisition of new stake in Fastly Inc. (NYSE:FSLY). The institutional investor has increased its shareholding in the Technology company by 5.86% to 11.35 million shares with purchase of 0.63 million shares. This fresh investment now brings its stake to 9.05% valued currently at $167.74 million. In addition, Point72 Asset Management LP raised its holdings by 5.24 million to 5.24 million shares. And Fidelity Management & Research Co has lifted its position by 214.67% or 3.11 million shares – to 4.55 million shares.
With over 2.56 million Fastly Inc. (FSLY) shares trading Friday and a closing price of $12.89 on the day, the dollar volume was approximately $33.0 million. The shares have shown a positive half year performance of 31.93% and its price on 05/19/23 lost nearly -2.64%. Currently, there are 125.42M common shares owned by the public and among those 111.62M shares have been available to trade.
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The analysts have set the share’s price value over the next 12 months at a high of $26.50 and a low of $8.00. The average price target is 21.64% above its recent price level and a downside to the estimated low will see the stock lose -61.13% over that period. But an upside of 51.36% will see the stock hit the forecast high price target while median target price for the stock is $16.50.
Insiders at the company have transacted a total of 74 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 2,048,103 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 978,409 shares.
The top 3 mutual fund holders in Fastly Inc. are Legal & General UCITS ETF PLC – C, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Legal & General UCITS ETF PLC – C owns 5.72 million shares of the company’s stock, all valued at over $84.6 million. Vanguard Total Stock Market ETF sold 6829.0 shares to see its total holdings shrink to 3.43 million shares valued at over $50.66 million and representing 2.73% of the shares outstanding. Vanguard Small Cap Index Fund bought 9240.0 shares to bring its total holdings to over 2.9 million shares at a value of $42.83 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.31% of the shares outstanding.
Shares of Fastly Inc. (NYSE: FSLY) opened at $13.13, down -$0.11 from a prior closing price of $13.24. However, the script later moved the day high at 13.26, down -2.64%. The company’s stock has a 5-day price change of -0.62% and -18.93% over the past three months. FSLY shares are trading 57.39% year to date (YTD), with the 12-month market performance up to 16.55% higher. It has a 12-month low price of $7.15 and touched a high of $18.08 over the same period. FSLY has an average intraday trading volume of 3.52 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.14%, -14.07%, and 14.88% respectively.
Institutional ownership of Fastly Inc. (NYSE: FSLY) shares accounts for 63.00% of the company’s 125.42M shares outstanding. Mutual fund holders own 33.16%, while other institutional holders and individual stakeholders account for 36.37% and 32.75% respectively.
It has a market capitalization of $1.68B and a beta (3y monthly) value of 1.32. The earnings-per-share (ttm) stands at -$1.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.63% over the week and 5.77% over the month.
Analysts forecast that Fastly Inc. (FSLY) will achieve an EPS of -$0.1 for the current quarter, -$0.05 for the next quarter and -$0.07 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.11 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was -$0.23 a year ago. Earnings per share for the fiscal year are expected to increase by 18.30%, and 72.00% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to -34.40% over the past 5-year period.
