Hillsdale Investment Management Inc. Has $2.65 Million Position in Fastly, Inc. (NYSE:FSLY)

Hillsdale Investment Management Inc. grew its holdings in Fastly, Inc. (NYSE:FSLY) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 204,400 shares of the company’s stock after acquiring an additional 16,000 shares during the quarter. Hillsdale Investment Management Inc. owned 0.15% of Fastly worth $2,651,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Allworth Financial LP lifted its holdings in shares of Fastly by 1,420.9% in the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after acquiring an additional 1,975 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Fastly in the 4th quarter valued at $61,000. Quest Partners LLC bought a new stake in shares of Fastly in the 4th quarter valued at $102,000. Strs Ohio increased its stake in shares of Fastly by 100.0% in the 4th quarter. Strs Ohio now owns 6,800 shares of the company’s stock valued at $121,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in Fastly in the 1st quarter valued at $92,000. Institutional investors own 79.71% of the company’s stock.

Insider Activity at Fastly

In related news, CFO Ronald W. Kisling sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $7.27, for a total transaction of $87,240.00. Following the completion of the transaction, the chief financial officer now owns 593,506 shares in the company, valued at $4,314,788.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Fastly news, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $7.27, for a total value of $87,240.00. Following the completion of the transaction, the chief financial officer now owns 593,506 shares in the company, valued at $4,314,788.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 7,449 shares of the 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 transaction, the chief financial officer now owns 586,057 shares of the company’s stock, valued at approximately $5,180,743.88. The disclosure for this sale can be found here. Insiders sold a total of 135,217 shares of company stock worth $1,176,853 over the last quarter. 6.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSLY. Piper Sandler cut their price objective on shares of Fastly from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Citigroup decreased their price target on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada decreased their price target on Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 2nd. Bank of America lowered Fastly from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $18.00 to $8.00 in a report on Thursday, May 2nd. Finally, DA Davidson lowered Fastly from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.69.

Fastly Trading Down 1.3 %

Shares of NYSE:FSLY traded down $0.10 during trading on Monday, reaching $7.65. 1,959,259 shares of the company traded hands, compared to its average volume of 3,819,188. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -7.65 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 current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $7.72 and its 200-day moving average is $12.53.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The firm had revenue of $133.52 million during the quarter, compared to analyst estimates of $133.01 million. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. As a group, analysts forecast that Fastly, Inc. will post -1.08 EPS for the current 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.