Bank of New York Mellon Corp Cuts Stock Holdings in Fastly, Inc. (NYSE:FSLY)

Bank of New York Mellon Corp decreased its position in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,720,597 shares of the company's stock after selling 53,095 shares during the quarter. Bank of New York Mellon Corp owned 1.23% of Fastly worth $16,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FSLY. Penserra Capital Management LLC boosted its holdings in Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company's stock worth $38,418,000 after purchasing an additional 801,968 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Fastly by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company's stock worth $22,831,000 after purchasing an additional 46,951 shares during the last quarter. Bank of Montreal Can boosted its holdings in Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company's stock worth $9,867,000 after purchasing an additional 1,293,490 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Fastly by 18.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company's stock worth $8,006,000 after purchasing an additional 161,070 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Fastly by 56.6% in the fourth quarter. SG Americas Securities LLC now owns 346,632 shares of the company's stock worth $3,272,000 after purchasing an additional 125,275 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company's stock.

Insider Activity at Fastly

In related news, CTO Artur Bergman sold 3,400 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00. Following the completion of the transaction, the chief technology officer now directly owns 3,444,136 shares of the company's stock, valued at approximately $41,364,073.36. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Nightingale sold 35,509 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $285,492.36. Following the transaction, the chief executive officer now directly owns 1,553,301 shares of the company's stock, valued at $12,488,540.04. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,099 shares of company stock valued at $1,627,884. Corporate insiders own 6.70% of the company's stock.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several recent research reports. Oppenheimer upgraded shares of 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. Royal Bank of Canada decreased their price target on shares of Fastly from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Citigroup increased their price target on shares of Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $8.55.

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Fastly Stock Down 0.2 %

Shares of FSLY stock opened at $6.59 on Wednesday. The company has a market capitalization of $937.05 million, a price-to-earnings ratio of -5.78 and a beta of 1.31. Fastly, Inc. has a one year low of $5.52 and a one year high of $14.25. The company's fifty day moving average price is $8.83 and its 200-day moving average price is $8.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings data 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 expect that Fastly, Inc. will post -0.78 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.

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