Fastly, Inc. (NYSE:FSLY) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lowered its stake in shares of Fastly, Inc. (NYSE:FSLY) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,496,770 shares of the company’s stock after selling 66,472 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Fastly were worth $14,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in shares of Fastly during the fourth quarter valued at $82,000. Marshall Wace LLP acquired a new position in Fastly during the 4th quarter valued at about $7,618,000. Zacks Investment Management grew its position in Fastly by 5.3% in the 4th quarter. Zacks Investment Management now owns 127,203 shares of the company’s stock worth $1,201,000 after purchasing an additional 6,424 shares during the last quarter. Mariner LLC increased its stake in shares of Fastly by 18.0% in the fourth quarter. Mariner LLC now owns 22,868 shares of the company’s stock valued at $216,000 after purchasing an additional 3,487 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Fastly in the fourth quarter valued at approximately $3,717,000. 79.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 5,342 shares of Fastly stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total value of $28,098.92. Following the transaction, the chief financial officer now owns 665,693 shares of the company’s stock, valued at approximately $3,501,545.18. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 35,509 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the sale, the chief executive officer now owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,454 shares of company stock worth $1,327,218 in the last three months. 6.70% of the stock is currently owned by insiders.

Fastly Stock Performance

NYSE:FSLY opened at $5.38 on Monday. The company has a 50-day moving average of $6.62 and a 200-day moving average of $8.07. The firm has a market cap of $764.86 million, a price-to-earnings ratio of -4.71 and a beta of 1.43. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a twelve month low of $4.65 and a twelve month high of $13.36.

Fastly (NYSE:FSLY) last issued 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%. Analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FSLY has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price objective on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Oppenheimer started coverage on Fastly in a research report on Thursday, March 20th. They set a “market perform” rating for the company. Citigroup raised their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Piper Sandler reduced their price objective on shares of Fastly from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley decreased their target price on shares of Fastly from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, Fastly has an average rating of “Hold” and a consensus target price of $8.25.

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.