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

Bank of Montreal Can boosted its position in Fastly, Inc. (NYSE:FSLY - Free Report) by 11,140.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,305,101 shares of the company's stock after purchasing an additional 1,293,490 shares during the period. Bank of Montreal Can owned about 0.93% of Fastly worth $9,867,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in Fastly during the second quarter worth approximately $38,000. EMC Capital Management lifted its position in Fastly by 400.0% during the second quarter. EMC Capital Management now owns 7,500 shares of the company's stock worth $54,000 after acquiring an additional 6,000 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Fastly by 95.3% during the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company's stock worth $65,000 after purchasing an additional 4,318 shares during the period. Aigen Investment Management LP bought a new position in shares of Fastly during the third quarter worth approximately $89,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Fastly during the second quarter worth approximately $103,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Stock Up 14.6 %

FSLY traded up $1.24 during midday trading on Monday, hitting $9.72. The company had a trading volume of 6,306,447 shares, compared to its average volume of 3,529,474. 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 stock's 50 day moving average price is $7.39 and its 200 day moving average price is $7.25. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -9.06 and a beta of 1.24. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87.

Fastly (NYSE:FSLY - Get Free Report) last posted 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 net margin of 27.47% and a negative return on equity of 13.24%. The company had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. During the same period in the previous year, the firm posted ($0.33) earnings per share. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts anticipate that Fastly, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on FSLY shares. Robert W. Baird lifted their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Raymond James cut shares of Fastly from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. Royal Bank of Canada lifted 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 decreased their price objective 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, Oppenheimer upgraded shares of Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 target price on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.35.

Insiders Place Their Bets

In related news, CEO Todd Nightingale sold 12,163 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $12,901,137.20. This represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 7,449 shares of the company'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 sale, the chief financial officer now owns 558,564 shares in the company, valued at $4,044,003.36. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,439 shares of company stock valued at $1,209,560. Corporate 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.