Bank of Montreal Can Acquires 1,293,490 Shares of Fastly, Inc. (NYSE:FSLY)

Bank of Montreal Can grew its holdings in Fastly, Inc. (NYSE:FSLY) by 11,140.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,305,101 shares of the company’s stock after acquiring an additional 1,293,490 shares during the quarter. Bank of Montreal Can owned 0.93% of Fastly worth $9,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FSLY. CWM LLC boosted its holdings in Fastly by 10.5% in the 2nd quarter. CWM LLC now owns 22,266 shares of the company’s stock valued at $164,000 after purchasing an additional 2,121 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Fastly by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after buying an additional 2,128 shares during the period. Blue Trust Inc. grew its position in Fastly by 15.2% during the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after buying an additional 2,296 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Fastly by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,130 shares of the company’s stock valued at $222,000 after acquiring an additional 3,124 shares during the period. Finally, Arizona State Retirement System raised its holdings in Fastly by 10.3% in the 2nd quarter. Arizona State Retirement System now owns 35,690 shares of the company’s stock valued at $263,000 after acquiring an additional 3,338 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FSLY shares. Piper Sandler lifted their price objective on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Royal Bank of Canada increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Morgan Stanley lowered their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Finally, Craig Hallum raised their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, Fastly presently has a consensus rating of “Hold” and a consensus target price of $7.94.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 19,889 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total transaction of $118,538.44. Following the sale, the chief technology officer now directly owns 6,205,000 shares of the company’s stock, valued at $36,981,800. This represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the completion of the sale, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,439 shares of company stock worth $1,209,560. Insiders own 6.70% of the company’s stock.

Fastly Price Performance

NYSE:FSLY opened at $8.48 on Monday. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.19 billion, a PE ratio of -7.78 and a beta of 1.24. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $25.87. The company’s 50-day moving average price is $7.39 and its two-hundred day moving average price is $7.25.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. During the same period in the previous year, the business earned ($0.33) EPS. Fastly’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Fastly, Inc. will post -0.87 EPS 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.