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 3.11% to 12.41 million shares with purchase of 0.37 million shares. This fresh investment now brings its stake to 9.49% valued currently at $220.88 million. In addition, Fidelity Management & Research Co raised its holdings by 5.52 million to 11.23 million shares. And BlackRock Fund Advisors has lifted its position by 2.52% or 0.19 million shares – to 7.73 million shares.
Currently, there are 124.34M common shares owned by the public and among those 119.88M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 118 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 1,489,125 shares. Insider sales of the common stock occurred on 95 occasions, with total insider shares sold totaling 1,607,976 shares.
The top 3 mutual fund holders in Fastly Inc are Fidelity Global Innovators Invest, Legal & General UCITS ETF PLC – C, and Fidelity Global Innovators Class. Fidelity Global Innovators Invest owns 6.2 million shares of the company’s stock, all valued at over $110.44 million. The company bought an additional 0.3 million shares recently to bring their total holdings to about 4.74% of the shares outstanding. Legal & General UCITS ETF PLC – C sold 16063.0 shares to see its total holdings shrink to 5.59 million shares valued at over $99.44 million and representing 4.27% of the shares outstanding. Fidelity Global Innovators Class bought 0.17 million shares to bring its total holdings to over 4.33 million shares at a value of $77.01 million. Fidelity Global Innovators Class now owns shares totaling to 3.31% of the shares outstanding.
The company’s stock has a 5-day price change of 13.71% and 37.20% over the past three months. FSLY shares are trading 14.16% year to date (YTD), with the 12-month market performance up to 105.67% higher. It has a 12-month low price of $9.54 and touched a high of $24.31 over the same period. FSLY has an average intraday trading volume of 2.69 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 14.24%, 15.17%, and 17.70% respectively.
Institutional ownership of Fastly Inc (NYSE: FSLY) shares accounts for 72.55% of the company’s 124.34M shares outstanding. Mutual fund holders own 30.97%, while other institutional holders and individual stakeholders account for 52.47% and 20.64% respectively.
It has a market capitalization of $2.66B and a beta (3y monthly) value of 1.31. The earnings-per-share (ttm) stands at -$1.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.92% over the week and 4.92% over the month.
Analysts forecast that Fastly Inc (FSLY) will achieve an EPS of -$0.02 for the current quarter, -$0.03 for the next quarter and -$0.03 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to increase by 64.53%, and 84.62% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to -34.86% over the past 5-year period.
Looking at the support for the FSLY, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on Jan-23-24, with the firm’s price target at $11-$20.
