12,232 Shares in Fastly, Inc. (NYSE:FSLY) Bought by Cibc World Markets Corp

Cibc World Markets Corp acquired a new position in Fastly, Inc. (NYSE:FSLY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,232 shares of the company’s stock, valued at approximately $115,000.

Several other institutional investors have also recently added to or reduced their stakes in FSLY. Geode Capital Management LLC boosted its holdings in shares of Fastly by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock valued at $22,831,000 after buying an additional 46,951 shares during the period. Bank of Montreal Can lifted its holdings in Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after acquiring an additional 1,293,490 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Fastly by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,074,175 shares of the company’s stock valued at $10,140,000 after acquiring an additional 16,533 shares during the period. Raymond James Financial Inc. acquired a new position in Fastly in the fourth quarter valued at approximately $3,717,000. Finally, SG Americas Securities LLC grew its holdings in shares of Fastly by 56.6% during the fourth quarter. SG Americas Securities LLC now owns 346,632 shares of the company’s stock valued at $3,272,000 after purchasing an additional 125,275 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FSLY. Citigroup boosted their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Piper Sandler reissued a “neutral” rating and set a $9.00 price target (down previously from $10.00) on shares of Fastly in a report on Thursday, February 13th. Oppenheimer assumed coverage on shares of Fastly in a research report on Thursday, March 20th. They set a “market perform” rating for the company. Finally, Royal Bank of Canada dropped their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat, Fastly presently has an average rating of “Hold” and an average price target of $8.55.

Insider Activity at Fastly

In other Fastly news, CEO Todd Nightingale sold 8,595 shares of Fastly stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total value of $59,047.65. Following the transaction, the chief executive officer now owns 1,544,706 shares in the company, valued at approximately $10,612,130.22. The trade was a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 12,500 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $125,000.00. Following the completion of the transaction, the chief financial officer now directly owns 525,850 shares in the company, valued at $5,258,500. This represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,699 shares of company stock valued at $1,486,150 over the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Fastly Trading Down 2.4 %

Shares of NYSE:FSLY opened at $6.71 on Friday. The company has a 50 day moving average of $8.25 and a 200-day moving average of $8.23. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm has a market cap of $954.26 million, a P/E ratio of -5.88 and a beta of 1.31. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $14.12.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. As a group, analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the 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.