Bank of Montreal Can Purchases New Stake in Fastly, Inc. (NYSE:FSLY)

Bank of Montreal Can purchased a new stake in shares of Fastly, Inc. (NYSE:FSLY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,296 shares of the company’s stock, valued at approximately $521,000.

Several other institutional investors and hedge funds have also made changes to their positions in FSLY. Raymond James & Associates raised its position in shares of Fastly by 152.9% during the 1st quarter. Raymond James & Associates now owns 32,370 shares of the company’s stock valued at $563,000 after acquiring an additional 19,572 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Fastly by 63.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 53,214 shares of the company’s stock valued at $925,000 after acquiring an additional 20,738 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Fastly by 11.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,021,017 shares of the company’s stock valued at $17,745,000 after acquiring an additional 108,737 shares in the last quarter. HighTower Advisors LLC increased its position in Fastly by 18.8% in the first quarter. HighTower Advisors LLC now owns 73,283 shares of the company’s stock worth $1,273,000 after buying an additional 11,595 shares during the period. Finally, Cetera Advisor Networks LLC acquired a new stake in Fastly in the first quarter worth $250,000. 65.65% of the stock is owned by institutional investors and hedge funds.

Fastly Trading Down 5.8 %

Shares of FSLY stock opened at $16.27 on Friday. The stock has a 50-day simple moving average of $17.27 and a 200 day simple moving average of $17.29. Fastly, Inc. has a fifty-two week low of $7.15 and a fifty-two week high of $24.31. The stock has a market capitalization of $2.13 billion, a P/E ratio of -13.12 and a beta of 1.32. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.49.

Insider Activity at Fastly

In related news, EVP Brett Shirk sold 7,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $14.60, for a total transaction of $102,200.00. Following the completion of the transaction, the executive vice president now owns 253,261 shares of the company’s stock, valued at $3,697,610.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Ronald W. Kisling sold 1,179 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $22.07, for a total value of $26,020.53. Following the completion of the transaction, the chief financial officer now owns 467,648 shares in the company, valued at approximately $10,320,991.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brett Shirk sold 7,000 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $14.60, for a total value of $102,200.00. Following the completion of the transaction, the executive vice president now owns 253,261 shares of the company’s stock, valued at approximately $3,697,610.60. The disclosure for this sale can be found here. Insiders sold 304,619 shares of company stock valued at $5,967,579 over the last 90 days. 7.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several analyst reports. Citigroup increased their target price on Fastly from $8.00 to $10.00 and gave the stock a “sell” rating in a research report on Tuesday, August 29th. Morgan Stanley increased their target price on Fastly from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Raymond James reaffirmed a “strong-buy” rating and issued a $25.00 target price on shares of Fastly in a research report on Thursday, October 5th. Finally, Royal Bank of Canada increased their target price on Fastly from $11.00 to $12.00 and gave the stock an “underperform” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.65.

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.