Cibc World Markets Corp Takes Position in Fastly, Inc. (NYSE:FSLY)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in shares of Fastly by 11,140.2% during the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after purchasing an additional 1,293,490 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Fastly in the 4th quarter worth approximately $3,717,000. First Eagle Investment Management LLC acquired a new position in Fastly in the 4th quarter valued at $3,192,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Fastly by 18.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after purchasing an additional 161,070 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Fastly by 56.6% during the 4th quarter. SG Americas Securities LLC now owns 346,632 shares of the company’s stock worth $3,272,000 after purchasing an additional 125,275 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analyst Ratings Changes

FSLY has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Royal Bank of Canada decreased their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Oppenheimer started coverage on shares of Fastly in a research report on Thursday, March 20th. They set a “market perform” rating for the company. Finally, Citigroup lifted their price target on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.55.

Fastly Stock Performance

NYSE:FSLY opened at $6.71 on Friday. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $14.12. The firm has a market capitalization of $954.26 million, a price-to-earnings ratio of -5.88 and a beta of 1.31. 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’s fifty day simple moving average is $8.25 and its 200 day simple moving average is $8.23.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) EPS 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, equities research analysts expect that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Fastly

In related news, CFO Ronald W. Kisling sold 12,500 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $125,000.00. Following the transaction, the chief financial officer now owns 525,850 shares in the company, valued at approximately $5,258,500. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Artur Bergman sold 5,304 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total value of $36,491.52. Following the sale, the chief technology officer now owns 3,669,058 shares of the company’s stock, valued at approximately $25,243,119.04. This trade represents a 0.14 % 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 owned by corporate insiders.

Fastly 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.