Cambridge Trust Co. Purchases Shares of 3,000 Fastly, Inc. (NYSE:FSLY)

Cambridge Trust Co. acquired a new position in Fastly, Inc. (NYSE:FSLY) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,000 shares of the company’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FSLY. Vista Investment Partners LLC purchased a new stake in Fastly during the first quarter valued at approximately $1,107,000. Price T Rowe Associates Inc. MD increased its stake in shares of Fastly by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,371 shares of the company’s stock worth $1,069,000 after purchasing an additional 4,498 shares in the last quarter. EntryPoint Capital LLC raised its holdings in Fastly by 41.1% in the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after purchasing an additional 1,643 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after purchasing an additional 466,560 shares in the last quarter. Finally, Lane Generational LLC grew its holdings in Fastly by 79.1% during the first quarter. Lane Generational LLC now owns 207,822 shares of the company’s stock valued at $2,695,000 after purchasing an additional 91,757 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Price Performance

NYSE:FSLY traded down $0.17 during trading hours on Friday, reaching $7.51. The stock had a trading volume of 2,567,547 shares, compared to its average volume of 2,706,340. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.83 and a current ratio of 3.83. The stock has a market capitalization of $1.03 billion, a PE ratio of -7.51 and a beta of 1.13. Fastly, Inc. has a 52 week low of $6.77 and a 52 week high of $25.87. The company has a 50 day moving average price of $7.57 and a two-hundred day moving average price of $11.96.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.02. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The company had revenue of $133.52 million for the quarter, compared to analysts’ expectations of $133.01 million. As a group, sell-side analysts anticipate that Fastly, Inc. will post -1.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FSLY. Piper Sandler decreased their price objective on Fastly from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. DA Davidson downgraded shares of Fastly from a “buy” rating to a “neutral” rating and lowered their price target for the company from $24.00 to $8.50 in a report on Thursday, May 2nd. Royal Bank of Canada reduced their price objective on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. Citigroup decreased their price objective on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Finally, Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $18.00 to $8.00 in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Fastly has a consensus rating of “Hold” and an average price target of $12.93.

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 7,449 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $8.84, for a total value of $65,849.16. Following the completion of the transaction, the chief financial officer now owns 586,057 shares of the company’s stock, valued at approximately $5,180,743.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $8.84, for a total value of $65,849.16. Following the completion of the sale, the chief financial officer now directly owns 586,057 shares in the company, valued at $5,180,743.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Todd Nightingale sold 65,447 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $578,551.48. Following the transaction, the chief executive officer now owns 1,741,181 shares in the company, valued at approximately $15,392,040.04. The disclosure for this sale can be found here. Insiders have sold a total of 135,217 shares of company stock worth $1,176,853 in the last three months. Insiders own 6.70% of the company’s stock.

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.