89,856 Shares in Fastly, Inc. (NYSE:FSLY) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in Fastly, Inc. (NYSE:FSLY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 89,856 shares of the company’s stock, valued at approximately $848,000. Dynamic Technology Lab Private Ltd owned 0.06% of Fastly at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FSLY. AlphaQuest LLC boosted its holdings in shares of Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after purchasing an additional 2,960 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after buying an additional 3,221 shares during the period. FMR LLC grew its position in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Fastly during the fourth quarter valued at $72,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Fastly in the fourth quarter valued at about $83,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Price Performance

Shares of FSLY stock opened at $5.16 on Monday. Fastly, Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $14.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The firm has a market capitalization of $733.56 million, a price-to-earnings ratio of -4.52 and a beta of 1.43. The stock’s 50-day simple moving average is $7.82 and its 200-day simple moving average is $8.24.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. As a group, equities analysts forecast 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 12,000 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $6.32, for a total value of $75,840.00. Following the completion of the transaction, the chief financial officer now directly owns 671,035 shares in the company, valued at $4,240,941.20. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd Nightingale sold 35,509 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction 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. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,150 shares of company stock valued at $1,356,178. 6.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FSLY has been the topic of a number of research reports. Citigroup raised their target price on shares of 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 objective (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Oppenheimer began coverage on Fastly in a report on Thursday, March 20th. They set a “market perform” rating for the company. Finally, Royal Bank of Canada cut their price target on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.55.

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.