Toronto Dominion Bank Invests $944,000 in Fastly, Inc. (NYSE:FSLY)

Toronto Dominion Bank acquired a new position in Fastly, Inc. (NYSE:FSLY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 100,000 shares of the company's stock, valued at approximately $944,000. Toronto Dominion Bank owned 0.07% of Fastly at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSLY. Sherbrooke Park Advisers LLC bought a new stake in shares of Fastly during the fourth quarter valued at approximately $198,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fastly during the 4th quarter worth about $105,000. Point72 Asset Management L.P. purchased a new stake in Fastly during the 4th quarter worth about $7,088,000. ProShare Advisors LLC raised its holdings in shares of Fastly by 48.3% in the 4th quarter. ProShare Advisors LLC now owns 38,198 shares of the company's stock valued at $361,000 after acquiring an additional 12,449 shares in the last quarter. Finally, Man Group plc increased its position in shares of Fastly by 104.7% during the 4th quarter. Man Group plc now owns 27,948 shares of the company's stock valued at $264,000 after purchasing an additional 14,292 shares during the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Fastly news, CFO Ronald W. Kisling sold 5,342 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total transaction of $28,098.92. Following the transaction, 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 transaction 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 company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.19, for a total value of $90,212.93. Following the transaction, the chief executive officer now owns 1,904,388 shares in the company, valued at $13,692,549.72. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,315 shares of company stock worth $245,901 in the last ninety days. Company insiders own 6.70% of the company's stock.

Fastly Trading Up 1.4%

NYSE FSLY traded up $0.11 during trading hours on Thursday, hitting $7.42. 310,822 shares of the company were exchanged, compared to its average volume of 3,089,354. The stock has a market cap of $1.07 billion, a PE ratio of -6.50 and a beta of 1.47. The stock has a 50-day moving average price of $6.38 and a 200 day moving average price of $7.94. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $12.08. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The company had revenue of $144.47 million during the quarter, compared to analyst estimates of $138.40 million. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Fastly's revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Oppenheimer assumed coverage on Fastly in a research report on Thursday, March 20th. They set a "market perform" rating on the stock. Piper Sandler increased their price objective on Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Royal Bank of Canada increased their price objective on Fastly from $5.00 to $6.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Finally, Morgan Stanley raised their target price on Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Nine equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $8.28.

About Fastly

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.