CANADA LIFE ASSURANCE Co Has $14.13 Million Holdings in Fastly, Inc. (NYSE:FSLY)

CANADA LIFE ASSURANCE Co decreased its stake in shares of Fastly, Inc. (NYSE:FSLY - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,496,770 shares of the company's stock after selling 66,472 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 1.07% of Fastly worth $14,130,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC increased its stake in Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock worth $44,000 after buying an additional 2,960 shares in the last quarter. FMR LLC increased its position in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company's stock valued at $48,000 after acquiring an additional 3,522 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock worth $54,000 after purchasing an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in Fastly during the 4th quarter valued at $72,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Fastly in the fourth quarter worth about $82,000. Institutional investors own 79.71% of the company's stock.

Insiders Place Their Bets

In related news, CFO Ronald W. Kisling sold 5,342 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total value of $28,098.92. Following the completion of the transaction, the chief financial officer now directly owns 665,693 shares in the company, valued at approximately $3,501,545.18. The trade was a 0.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 5,304 shares of Fastly stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total value of $36,491.52. Following the completion of the sale, the chief technology officer now directly owns 3,669,058 shares in the company, valued at approximately $25,243,119.04. This represents a 0.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,454 shares of company stock worth $1,327,218. 6.70% of the stock is currently owned by company insiders.

Fastly Stock Performance

Fastly stock traded up $0.13 during mid-day trading on Wednesday, hitting $5.49. 2,177,034 shares of the company's stock traded hands, compared to its average volume of 3,322,960. Fastly, Inc. has a one year low of $4.65 and a one year high of $13.36. The company has a market cap of $781.23 million, a PE ratio of -4.82 and a beta of 1.43. The firm has a 50 day moving average price of $6.42 and a 200 day moving average price of $8.02. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

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

Analysts Set New Price Targets

A number of research firms have weighed in on FSLY. Oppenheimer started coverage on Fastly in a report on Thursday, March 20th. They set a "market perform" rating for the company. Morgan Stanley lowered their price target on Fastly from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Piper Sandler decreased their target price on shares of Fastly from $9.00 to $6.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Citigroup upped their price objective 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, Royal Bank of Canada decreased their target price on Fastly from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.25.

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.