FMR LLC Discloses 8.795% Stake in Fastly (FSLY)

Ticker: FSLY · Form: SC 13G · Filed: 2024-02-09T00:00:00.000Z

Sentiment: bullish

Topics: institutional-ownership, passive-investment, shareholder-update

TL;DR

**FMR LLC just revealed an 8.795% stake in Fastly, signaling institutional confidence.**

AI Summary

FMR LLC, a major investment management firm, and its principal owner, Abigail P. Johnson, have disclosed a significant stake in Fastly, Inc. (FSLY). As of December 31, 2023, FMR LLC beneficially owns 11,515,587 shares of Fastly's Class A Common Stock, representing 8.795% of the company. This filing indicates a substantial, passive investment by a prominent institutional investor, which could signal confidence in Fastly's long-term prospects for current and potential shareholders.

Why It Matters

This filing shows a major institutional investor, FMR LLC, has a significant stake in Fastly, which can be seen as a vote of confidence in the company's future by a sophisticated market player.

Risk Assessment

Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces risk by providing stability and potential oversight.

Analyst Insight

A smart investor would view this as a positive signal, suggesting that a major institutional player sees value in Fastly. It might warrant further research into Fastly's fundamentals and future growth prospects, especially considering the passive nature of this investment.

Key Numbers

11,515,587 — Shares Beneficially Owned (Total Class A Common Stock shares held by FMR LLC and Abigail P. Johnson)
8.795% — Percent of Class (Percentage of Fastly's Class A Common Stock owned by FMR LLC and Abigail P. Johnson)

Key Players & Entities

FMR LLC (company) — reporting person and parent holding company
Fastly, Inc. (company) — subject company, issuer of securities
Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
11,515,587 (dollar_amount) — number of shares beneficially owned by FMR LLC and Abigail P. Johnson
8.795% (dollar_amount) — percentage of Class A Common Stock owned

Forward-Looking Statements

Fastly's stock may experience increased investor confidence due to FMR LLC's significant stake. (Fastly, Inc.) — medium confidence, target: Q2 2024

FAQ

Who is the primary entity reporting this ownership stake in Fastly, Inc.?

The primary entity reporting this ownership stake is FMR LLC, a parent holding company based in Boston, Massachusetts, as stated in Item 2(a) and Item 2(b) of the filing.

What is the total number of Fastly Class A Common Stock shares beneficially owned by FMR LLC?

FMR LLC beneficially owns 11,515,587 shares of Fastly's Class A Common Stock, as detailed in Item 4(a) and Item 7 of the filing.

What percentage of Fastly's Class A Common Stock does FMR LLC own?

FMR LLC owns 8.795% of Fastly's Class A Common Stock, as indicated in Item 4(b) and Item 11 of the filing.

Who else is listed as a reporting person in this SC 13G filing, besides FMR LLC?

Abigail P. Johnson is also listed as a reporting person, sharing beneficial ownership of the 11,515,587 shares, as shown in the 'Reporting Person - Abigail P. Johnson' section of the filing.

Under which SEC rule is this Schedule 13G filed?

This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the 'Check the appropriate box to designate the rule pursuant to which this Schedule is filed' section.

From the Filing

0000315066-24-001181.txt : 20240209 0000315066-24-001181.hdr.sgml : 20240209 20240209090302 ACCESSION NUMBER: 0000315066-24-001181 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 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 SEC ACT: 1934 Act SEC FILE NUMBER: 005-91010 FILM NUMBER: 24611613 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: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G 1 filing.txt SCHEDULE 13G Amendment No.0 FASTLY INC CLASS A COMMON STOCK Cusip #31188V100 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) Cusip #31188V100 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 11,512,581 Item 6: 0 Item 7: 11,515,587 Item 8: 0 Item 9: 11,515,587 Item 11: 8.795% Item 12: HC Cusip #31188V100 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 11,515,587 Item 8: 0 Item 9: 11,515,587 Item 11: 8.795% Item 12: IN Item 1(a). Name of Issuer: FASTLY INC Item 1(b). Address of Issuer's Principal Executive Offices: 475 BRANNAN, SUITE 300 SAN FRANCISCO, CA 94107 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: CLASS A COMMON STOCK Item 2(e). CUSIP Number: 31188V100 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 11,515,587 (b) Percent of Class: 8.795% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 11,515,587 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the CLASS A COMMON STOCK of FASTLY INC. No one other person's interest in the CLASS A COMMON STOCK of FASTLY INC is more than five percent of the total outstanding CLASS A COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10