First Trust Amends Fastly Stake, Signals Updated Passive Investment

TL;DR

**First Trust just updated its Fastly stake, watch for market reaction.**

AI Summary

First Trust Portfolios L.P., along with First Trust Advisors L.P. and The Charger Corporation, filed an amended Schedule 13G/A on February 7, 2024, indicating their ownership of Fastly, Inc. (Class A) common stock as of December 31, 2023. This filing, an amendment to a previous disclosure, signals a potential change in their passive investment stake in Fastly. Investors should note this as it reflects a significant institutional investor's updated position, which could influence market perception or trading activity for Fastly stock.

Why It Matters

This filing shows an updated position from a major institutional investor, First Trust Portfolios L.P., in Fastly, Inc., which can influence market sentiment and potentially signal a shift in their investment strategy for the company.

Risk Assessment

Risk Level: low — This is a routine amendment to a passive investment filing and does not inherently signal high risk, but rather an updated ownership disclosure.

Analyst Insight

An investor should monitor subsequent filings from First Trust Portfolios L.P. to track any further changes in their Fastly, Inc. holdings, as significant increases or decreases could signal a shift in institutional confidence.

Key Players & Entities

• Fastly, Inc. (company) — the subject company whose Class A common stock is being reported
• First Trust Portfolios L.P. (company) — the primary reporting person filing the SC 13G/A
• First Trust Advisors L.P. (company) — a reporting person associated with First Trust Portfolios L.P.
• The Charger Corporation (company) — a reporting person associated with First Trust Portfolios L.P.
• December 31, 2023 (date) — the date of the event which required the filing of this statement

Forward-Looking Statements

• First Trust Portfolios L.P. will continue to hold a significant, passive stake in Fastly, Inc. for the foreseeable future. (First Trust Portfolios L.P.) — medium confidence, target: December 31, 2024

FAQ

From the Filing

0001445546-24-000957.txt : 20240207 0001445546-24-000957.hdr.sgml : 20240207 20240207090429 ACCESSION NUMBER: 0001445546-24-000957 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20240207 DATE AS OF CHANGE: 20240207 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Fastly, Inc. CENTRAL INDEX KEY: 0001517413 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 275411834 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-91010 FILM NUMBER: 24602367 BUSINESS ADDRESS: STREET 1: 475 BRANNAN STREET 2: SUITE 300 CITY: SAN FRANCISCO STATE: CA ZIP: 94107 BUSINESS PHONE: 415-525-3481 MAIL ADDRESS: STREET 1: 475 BRANNAN STREET 2: SUITE 300 CITY: SAN FRANCISCO STATE: CA ZIP: 94107 FORMER COMPANY: FORMER CONFORMED NAME: Skycache, Inc.(DE) DATE OF NAME CHANGE: 20110405 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FIRST TRUST PORTFOLIOS LP CENTRAL INDEX KEY: 0001184765 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: IL FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 12O EAST LIBERTY DRIVE STREET 2: SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 BUSINESS PHONE: 630-765-8000 MAIL ADDRESS: STREET 1: 12O EAST LIBERTY DRIVE STREET 2: SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 SC 13G/A 1 sc13g_3.txt AMENDED SCHEDULE 13G UNITED STATES* SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* Fastly, Inc. (Class A) ------------------------------------------------------------------------ (Name of Issuer) Common ------------------------------ (Title of Class of Securities) 31188V100 -------------- (CUSIP Number) December 31, 2023 ------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ X ] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). - 1 - CUSIP No. 31188V100 1. Names of Reporting Persons, I.R.S. Identification Nos. of above persons (entities only): First Trust Portfolios L.P.: 36-3768815 First Trust Advisors L.P.: 36-3788904 The Charger Corporation: 36-3772451 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization of each Reporting Person: Illinois, U.S.A. Number of 5. Sole Voting Power: 0 Shares Bene- ficially Owned by Each 6. Shared Voting Power: Reporting Such shares are held by the following entities in the Person With: respective amounts listed: First Trust Portfolios L.P.: 0 First Trust Advisors L.P.: 5,586,706 The Charger Corporation: 5,586,706 7. Sole Dispositive Power: 0 8. Shared Dispositive Power: Such shares are held by the following entities in the respective amounts listed: First Trust Portfolios L.P.: 0 First Trust Advisors L.P.: 5,586,706 The Charger Corporation: 5,586,706 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 5,586,706 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - 2 - 11. Percent of Class Represented by Amount in Row (9): 4.27% 12. Type of Reporting Person (See Instructions) First Trust Portfolios L.P. - BD First Trust Advisors L.P. - IA The Charger Corporation -