Fastly, Inc. (NYSE:FSLY) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,796,501 shares of the company's stock after buying an additional 75,904 shares during the period. Bank of New York Mellon Corp owned approximately 1.24% of Fastly worth $11,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Fastly by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 15,289,861 shares of the company's stock worth $144,336,000 after purchasing an additional 103,440 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Fastly by 2.4% during the fourth quarter. Legal & General Group Plc now owns 8,025,959 shares of the company's stock worth $75,765,000 after purchasing an additional 189,667 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Fastly during the fourth quarter worth $35,334,000. First Trust Advisors LP increased its holdings in Fastly by 4.9% in the fourth quarter. First Trust Advisors LP now owns 3,139,255 shares of the company's stock valued at $29,635,000 after buying an additional 147,458 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Fastly by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,098,509 shares of the company's stock valued at $29,250,000 after buying an additional 12,974 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Price Performance

NYSE FSLY traded down $0.09 during trading hours on Thursday, hitting $7.22. 1,900,438 shares of the company's stock traded hands, compared to its average volume of 2,041,331. Fastly, Inc. has a 52-week low of $4.65 and a 52-week high of $12.08. The company has a market capitalization of $1.04 billion, a PE ratio of -6.62 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.50 and a quick ratio of 1.50. The firm's 50-day moving average is $7.23 and its 200-day moving average is $7.39.

Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The company had revenue of $144.47 million during the quarter, compared to analysts' expectations of $138.40 million. During the same quarter in the prior year, the company earned ($0.05) EPS. Fastly's revenue was up 8.2% compared to the same quarter last year. Equities analysts forecast that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on FSLY shares. Piper Sandler lifted their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. KeyCorp raised shares of Fastly to a "sector weight" rating in a report on Thursday, June 5th. Royal Bank Of Canada lifted their price objective on shares of Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Finally, Morgan Stanley lifted their target price on shares of Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Fastly currently has a consensus rating of "Hold" and an average target price of $8.28.

Insider Activity at Fastly

In other Fastly news, CRO Scott R. Lovett sold 127,608 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $6.95, for a total value of $886,875.60. Following the transaction, the executive directly owned 1,287,145 shares in the company, valued at $8,945,657.75. The trade was a 9.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $7.41, for a total transaction of $88,920.00. Following the completion of the transaction, the chief financial officer owned 635,053 shares in the company, valued at $4,705,742.73. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,124 shares of company stock valued at $1,138,628. Corporate insiders own 6.70% of the company's stock.

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.