Connor Clark & Lunn Investment Management Ltd. Invests $808,000 in Fastly, Inc. $FSLY

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 127,647 shares of the company's stock, valued at approximately $808,000. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of Fastly at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Fastly by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 15,590,433 shares of the company's stock valued at $98,687,000 after acquiring an additional 300,572 shares during the period. Federated Hermes Inc. raised its stake in shares of Fastly by 0.9% in the 1st quarter. Federated Hermes Inc. now owns 211,638 shares of the company's stock valued at $1,340,000 after acquiring an additional 1,988 shares during the period. Bryce Point Capital LLC purchased a new stake in shares of Fastly in the 1st quarter valued at approximately $99,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fastly by 16.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,503 shares of the company's stock valued at $263,000 after acquiring an additional 5,979 shares during the period. Finally, Lane Generational LLC raised its stake in shares of Fastly by 19.2% in the 1st quarter. Lane Generational LLC now owns 322,501 shares of the company's stock valued at $2,041,000 after acquiring an additional 51,852 shares during the period. 79.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Charles Lacey Compton III sold 15,335 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $6.88, for a total transaction of $105,504.80. Following the completion of the sale, the chief executive officer owned 673,645 shares in the company, valued at $4,634,677.60. This represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Nightingale sold 12,547 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.19, for a total transaction of $90,212.93. Following the sale, the chief executive officer owned 1,904,388 shares of the company's stock, valued at approximately $13,692,549.72. This represents a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,306 shares of company stock worth $1,630,189 over the last 90 days. 6.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FSLY has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price target on shares of Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Morgan Stanley upped their target price on shares of Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Craig Hallum raised shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a research note on Thursday, August 7th. Piper Sandler upped their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, KeyCorp upgraded shares of Fastly to a "sector weight" rating in a report on Thursday, June 5th. One research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $8.69.

Fastly Stock Up 0.8%

Shares of Fastly stock traded up $0.0550 during trading hours on Thursday, hitting $7.2550. The company had a trading volume of 1,240,072 shares, compared to its average volume of 2,888,119. The company's 50-day moving average is $6.97 and its two-hundred day moving average is $7.02. Fastly, Inc. has a twelve month low of $4.65 and a twelve month high of $12.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $1.07 billion, a P/E ratio of -7.04 and a beta of 1.19.

Fastly (NYSE:FSLY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $148.71 million during the quarter, compared to analysts' expectations of $144.86 million. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The company's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.07) EPS. Analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Fastly 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.