Unusual Call Option Trade in Fastly Worth $116K

On May 31, 2023 at 11:36:34 ET an unusually large $116.00K block of Call contracts in Fastly Inc – (FSLY) was sold, with a strike price of $20.00 / share, expiring in 107 day(s) (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.64 sigmas above the mean, placing it in the 96.43th percentile of all recent large trades made in FSLY options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 473 funds or institutions reporting positions in Fastly Inc -. This is an increase of 41 owner(s) or 9.49% in the last quarter. Average portfolio weight of all funds dedicated to FSLY is 0.16%, a decrease of 25.07%. Total shares owned by institutions increased in the last three months by 5.25% to 88,451K shares. The put/call ratio of FSLY is 0.38, indicating a bullish outlook.

Analyst Price Forecast Suggests 5.40% Upside

As of May 11, 2023, the average one-year price target for Fastly Inc – is 16.78. The forecasts range from a low of 8.08 to a high of $27.82. The average price target represents an increase of 5.40% from its latest reported closing price of 15.92.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Fastly Inc – is 501MM, an increase of 11.78%. The projected annual non-GAAP EPS is -0.47.

What are Other Shareholders Doing?

Legal & General Group holds 6,571K shares representing 5.18% ownership of the company. In it’s prior filing, the firm reported owning 6,599K shares, representing a decrease of 0.43%. The firm increased its portfolio allocation in FSLY by 54.19% over the last quarter.

First Trust Advisors holds 4,683K shares representing 3.69% ownership of the company. In it’s prior filing, the firm reported owning 6,344K shares, representing a decrease of 35.48%. The firm increased its portfolio allocation in FSLY by 55.24% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,428K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 3,361K shares, representing an increase of 1.95%. The firm increased its portfolio allocation in FSLY by 104.21% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 2,898K shares representing 2.29% ownership of the company. In it’s prior filing, the firm reported owning 2,852K shares, representing an increase of 1.59%. The firm increased its portfolio allocation in FSLY by 111.49% over the last quarter.

SKYY – First Trust Cloud Computing ETF holds 2,538K shares representing 2.00% ownership of the company. In it’s prior filing, the firm reported owning 3,477K shares, representing a decrease of 36.99%. The firm increased its portfolio allocation in FSLY by 48.56% over the last quarter.

Fastly Background Information
(This description is provided by the company.)

Fastly helps people stay better connected with the things they love. Fastly’s edge cloud platform enables customers to create great digital experiences quickly, securely, and reliably by processing, serving, and securing its customers’ applications as close to their end-users as possible – at the edge of the Internet. The platform is designed to take advantage of the modern internet, to be programmable, and to support agile software development. Fastly’s customers include many of the world’s most prominent companies, including Pinterest, The New York Times, and GitHub.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K

This article originally appeared on Fintel