Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Fastly, Inc. (NYSE:FSLY – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 84,800 shares of the company's stock, valued at approximately $1,474,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.07% of Fastly as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Roundview Capital LLC lifted its position in Fastly by 7.3% in the fourth quarter. Roundview Capital LLC now owns 15,542 shares of the company's stock valued at $551,000 after purchasing an additional 1,051 shares during the period. Liberty One Investment Management LLC lifted its holdings in shares of Fastly by 3.7% in the 1st quarter. Liberty One Investment Management LLC now owns 32,385 shares of the company's stock valued at $563,000 after buying an additional 1,155 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Fastly by 6.1% in the first quarter. Teacher Retirement System of Texas now owns 22,708 shares of the company's stock valued at $395,000 after buying an additional 1,300 shares in the last quarter. Relyea Zuckerberg Hanson LLC grew its holdings in Fastly by 8.4% during the first quarter. Relyea Zuckerberg Hanson LLC now owns 18,724 shares of the company's stock worth $357,000 after acquiring an additional 1,444 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Fastly by 2.4% in the fourth quarter. Rhumbline Advisers now owns 94,190 shares of the company's stock valued at $3,339,000 after acquiring an additional 2,198 shares during the period. Institutional investors and hedge funds own 65.42% of the company's stock.
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Insiders Place Their Bets
In other news, CFO Ronald W. Kisling sold 5,083 shares of the firm's stock in a transaction on Monday, July 18th. The stock was sold at an average price of $12.02, for a total transaction of $61,097.66. Following the sale, the chief financial officer now owns 409,054 shares in the company, valued at $4,916,829.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fastly news, insider Artur Bergman sold 14,319 shares of the business's stock in a transaction on Monday, August 8th. The shares were sold at an average price of $12.18, for a total value of $174,405.42. Following the transaction, the insider now owns 6,726,628 shares in the company, valued at approximately $81,930,329.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ronald W. Kisling sold 5,083 shares of the company's stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $12.02, for a total value of $61,097.66. Following the completion of the transaction, the chief financial officer now directly owns 409,054 shares in the company, valued at $4,916,829.08. The disclosure for this sale can be found here. Insiders have sold 68,630 shares of company stock valued at $820,461 in the last ninety days. Insiders own 8.90% of the company's stock.
Fastly Stock Up 0.8 %
FSLY opened at $9.05 on Thursday. The firm has a market cap of $1.10 billion, a P/E ratio of -5.48 and a beta of 1.43. The business's fifty day simple moving average is $11.16 and its 200 day simple moving average is $13.66. Fastly, Inc. has a 52 week low of $8.27 and a 52 week high of $58.62. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.73.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on FSLY shares. Morgan Stanley downgraded shares of Fastly from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $18.00 to $12.00 in a report on Monday, July 11th. DA Davidson lowered their price target on Fastly to $12.00 in a report on Tuesday, August 9th. Craig Hallum reduced their price objective on Fastly from $19.00 to $13.00 in a report on Thursday, August 4th. Royal Bank of Canada cut Fastly from a "sector perform" rating to an "underperform" rating and dropped their price target for the company from $17.50 to $9.00 in a research report on Tuesday, July 19th. Finally, Piper Sandler decreased their price objective on shares of Fastly from $19.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 6th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $14.25.
About Fastly
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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.
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