100,000 Shares in Fastly, Inc. (NYSE:FSLY) Bought by Toronto Dominion Bank

Toronto Dominion Bank purchased a new stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 100,000 shares of the company's stock, valued at approximately $944,000. Toronto Dominion Bank owned approximately 0.07% of Fastly at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FSLY. AlphaQuest LLC increased its holdings in Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock worth $44,000 after acquiring an additional 2,960 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after purchasing an additional 3,221 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Fastly during the 4th quarter worth about $72,000. Canada Pension Plan Investment Board bought a new position in Fastly in the 4th quarter worth about $82,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Fastly during the 4th quarter valued at about $83,000. Institutional investors and hedge funds own 79.71% of the company's stock.

Insiders Place Their Bets

In related news, CFO Ronald W. Kisling sold 5,342 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 5,304 shares of Fastly 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 directly owns 3,669,058 shares of the company's stock, valued at approximately $25,243,119.04. This trade represents a 0.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,646 shares of company stock worth $140,430. 6.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FSLY has been the subject of several analyst reports. Oppenheimer assumed coverage on shares of Fastly in a report on Thursday, March 20th. They issued a "market perform" rating for the company. Morgan Stanley raised their price target on Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Piper Sandler boosted 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. Finally, Royal Bank of Canada lifted their target price on shares of Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.28.

Fastly Trading Up 2.8%

Shares of NYSE:FSLY traded up $0.20 on Tuesday, hitting $7.39. The company had a trading volume of 1,950,735 shares, compared to its average volume of 3,102,945. 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, Inc. has a 1 year low of $4.65 and a 1 year high of $12.08. The firm's 50-day simple moving average is $6.37 and its two-hundred day simple moving average is $7.95. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.48 and a beta of 1.47.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $144.47 million for the quarter, compared to analysts' expectations of $138.40 million. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) earnings per share. Equities 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.