California State Teachers Retirement System sells 5,286 shares of Fastly, Inc. stock. (NYSE:FSLY)

California State Teachers Retirement System reduced its stake in Fastly, Inc. (NYSE:FSLY – Free Report ) by 4.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,177 shares of the company’s stock after selling 5,286 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Fastly worth $1,533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSLY. Vanguard Group Inc. grew its position in Fastly by 5.1% in the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after buying an additional 657,334 shares during the last quarter. First Trust Advisors LP raised its position in Fastly by 21.8% in the fourth quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after acquiring an additional 998,749 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Fastly by 9.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock valued at $33,942,000 after purchasing an additional 162,659 shares during the period. Jennison Associates LLC bought a new stake in shares of Fastly in the first quarter valued at about $13,724,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Fastly by 94.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after purchasing an additional 466,560 shares during the last quarter. Institutional investors own 79.71% of the company’s shares.

Fast trading down 3.2%

NYSE FSLY opened at $5.67 on Monday. The company has a fifty day moving average of $7.41 and a 200 day moving average of $11.46. The company has a market cap of $774.74 million, a PE ratio of -5.67 and a beta of 1.13. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83, and a quick ratio of 3.83.

Fastly (NYSE:FSLY – Get Your Free Report ) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The company had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. In the same quarter last year, the company earned ($0.32) earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts estimate that Fastly, Inc. will post -1.08 earnings per share for the current year.

Analyst upgrades and downgrades

A number of analysts have recently analyzed the action. Bank of America lowered shares of Fastly from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $18.00 to $8.00 in a research report on Thursday. May 2. Craig Hallum cut their price target on shares of Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday. Royal Bank of Canada decreased their price target on Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, May 2nd. Citigroup dropped their target price on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Finally, Raymond James decreased their price target on Fastly from $13.00 to $8.00 and set a “strong-buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. Fastly presently has a consensus rating of “Hold” and a consensus price target of $7.93, based on data from MarketBeat.com.

Get the latest report on Fastly

Indoor activity

In other Fastly news, CFO Ronald W. Kisling sold 23,105 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $8.84, for a total value of $204,248.20. Following the completion of the sale, the chief financial officer now owns 609,631 shares in the company, valued at approximately $5,389,138.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In other news, CFO Ronald W. Kisling sold 7,449 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $8.84, for a total value of $65,849.16. Following the completion of the sale, the chief financial officer now owns 586,057 shares of the company’s stock, valued at approximately $5,180,743.88. The transaction was disclosed in a filing with the SEC, which is accessible via this link. Also, CFO Ronald W. Kisling sold 23,105 shares of Fastly stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $204,248.20. Following the sale, the chief financial officer now directly owns 609,631 shares in the company, valued at approximately $5,389,138.04. The disclosure for this sale can be found here. Insiders have sold 135,217 shares of company stock worth $1,176,853 over the last three months. Insiders hold 6.70% of the company’s shares.

Fastly Company Profile

(Free report)

Fastly, Inc operates a cloud edge platform to process, serve and secure its customers’ applications in the United States, 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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