Dynamic Technology Lab Private Ltd Invests $848,000 in Fastly, Inc. (NYSE:FSLY)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 89,856 shares of the company's stock, valued at approximately $848,000. Dynamic Technology Lab Private Ltd owned approximately 0.06% of Fastly as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd boosted its holdings in Fastly by 84.2% in the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company's stock valued at $848,000 after purchasing an additional 51,224 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Fastly in the 3rd quarter valued at $400,000. Zacks Investment Management purchased a new position in shares of Fastly in the 3rd quarter valued at $914,000. Jacobs Levy Equity Management Inc. acquired a new stake in Fastly during the 3rd quarter worth $679,000. Finally, Swiss National Bank lifted its position in Fastly by 2.2% in the fourth quarter. Swiss National Bank now owns 259,000 shares of the company's stock valued at $2,445,000 after acquiring an additional 5,500 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company's stock.

Fastly Trading Down 2.1 %

Shares of Fastly stock traded down $0.11 during trading hours on Friday, reaching $5.27. 454,073 shares of the company's stock were exchanged, compared to its average volume of 3,336,840. The firm has a market capitalization of $749.78 million, a price-to-earnings ratio of -4.64 and a beta of 1.43. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly, Inc. has a 52-week low of $4.65 and a 52-week high of $14.12. The company has a fifty day moving average of $7.20 and a 200-day moving average of $8.15.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Sell-side analysts forecast that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FSLY. Piper Sandler lowered their target price on shares of Fastly from $9.00 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday. Oppenheimer assumed coverage on Fastly in a research report on Thursday, March 20th. They set a "market perform" rating on the stock. Royal Bank of Canada reduced their price target on Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Finally, Citigroup lifted their price target on Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $8.25.

Insider Transactions at Fastly

In other news, CFO Ronald W. Kisling sold 12,000 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $6.32, for a total value of $75,840.00. Following the completion of the sale, the chief financial officer now owns 671,035 shares of the company's stock, valued at approximately $4,240,941.20. The trade was a 1.76 % decrease in their position. 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 35,509 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the transaction, the chief executive officer now owns 1,553,301 shares in the company, valued at $12,488,540.04. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 155,150 shares of company stock worth $1,356,178 in the last ninety days. Insiders own 6.70% of the company's stock.

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.