The Manufacturers Life Insurance Company Acquires 3,575 Shares of Fastly, Inc. (NYSE:FSLY)

The Manufacturers Life Insurance Company grew its holdings in shares of Fastly, Inc. (NYSE:FSLY) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,876 shares of the company’s stock after buying an additional 3,575 shares during the period. The Manufacturers Life Insurance Company’s holdings in Fastly were worth $544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new position in Fastly during the 2nd quarter valued at $38,000. EMC Capital Management boosted its stake in shares of Fastly by 400.0% during the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after purchasing an additional 6,000 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after purchasing an additional 4,318 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Fastly during the third quarter valued at about $89,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Fastly in the second quarter worth about $103,000. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Down 1.1 %

NYSE FSLY opened at $10.48 on Friday. Fastly, Inc. has a one year low of $5.52 and a one year high of $25.87. The company has a market capitalization of $1.47 billion, a P/E ratio of -9.61 and a beta of 1.27. The stock has a 50 day moving average price of $7.96 and a 200-day moving average price of $7.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.33) EPS. As a group, equities analysts predict that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FSLY. Craig Hallum lifted their price objective on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Monday, December 2nd. DA Davidson upped their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada raised their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.55.

Insiders Place Their Bets

In related news, CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the sale, the chief financial officer now owns 558,564 shares of the company’s stock, valued at $4,044,003.36. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Nightingale sold 12,163 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.12, for a total transaction of $98,763.56. Following the sale, the chief executive officer now directly owns 1,588,810 shares of the company’s stock, valued at approximately $12,901,137.20. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,241 shares of company stock worth $1,699,684. 6.70% of the stock is currently owned by company insiders.

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.