Fastly, Inc. (NYSE:FSLY) Stake Lowered by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its holdings in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,496,770 shares of the company's stock after selling 66,472 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 1.07% of Fastly worth $14,130,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Fastly during the fourth quarter worth $82,000. Marshall Wace LLP acquired a new position in Fastly during the 4th quarter worth approximately $7,618,000. Zacks Investment Management lifted its holdings in shares of Fastly by 5.3% in the 4th quarter. Zacks Investment Management now owns 127,203 shares of the company's stock valued at $1,201,000 after buying an additional 6,424 shares during the period. Mariner LLC raised its position in Fastly by 18.0% in the fourth quarter. Mariner LLC now owns 22,868 shares of the company's stock worth $216,000 after acquiring an additional 3,487 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Fastly during the 4th quarter worth $3,717,000. Institutional investors and hedge funds own 79.71% of the company's stock.

Analyst Ratings Changes

FSLY has been the topic of several recent analyst reports. Piper Sandler lowered their target price on shares of Fastly from $9.00 to $6.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada cut their price target on Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. Oppenheimer began coverage on shares of Fastly in a report on Thursday, March 20th. They issued a "market perform" rating on the stock. Citigroup increased their target price on Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Finally, Morgan Stanley reduced their price objective on Fastly from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.25.

Insider Activity

In other Fastly news, CTO Artur Bergman sold 5,304 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.88, for a total transaction of $36,491.52. Following the completion of the sale, the chief technology officer now owns 3,669,058 shares in the company, valued at $25,243,119.04. This trade represents a 0.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 5,342 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $5.26, for a total transaction of $28,098.92. Following the completion of the sale, the chief financial officer now directly owns 665,693 shares in the company, valued at $3,501,545.18. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,903 shares of company stock valued at $1,001,927. Company insiders own 6.70% of the company's stock.

Fastly Trading Up 0.3 %

Fastly stock traded up $0.02 during trading on Friday, reaching $5.87. The company had a trading volume of 1,248,563 shares, compared to its average volume of 3,304,051. The firm has a market capitalization of $835.30 million, a price-to-earnings ratio of -5.15 and a beta of 1.43. The stock's 50 day moving average price is $6.33 and its two-hundred day moving average price is $7.99. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $13.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY - Get Free Report) last released 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 analysts expect 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.