Royal Bank of Canada Buys 30,163 Shares of Fastly, Inc. $FSLY

Royal Bank of Canada lifted its position in Fastly, Inc. (NASDAQ:FSLY) by 75.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 70,044 shares of the company’s stock after purchasing an additional 30,163 shares during the period. Royal Bank of Canada’s holdings in Fastly were worth $2,036,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FSLY. Alyeska Investment Group L.P. boosted its position in Fastly by 2,795.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock valued at $48,754,000 after buying an additional 4,623,767 shares during the period. First Trust Advisors LP increased its position in shares of Fastly by 100.5% in the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock valued at $204,349,000 after acquiring an additional 3,524,763 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Fastly by 3,941.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock valued at $9,383,000 after acquiring an additional 1,296,119 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in shares of Fastly during the fourth quarter valued at about $11,657,000. Finally, Morgan Stanley raised its stake in shares of Fastly by 14.7% during the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock valued at $84,893,000 after acquiring an additional 1,071,222 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Price Performance

FSLY stock opened at $29.04 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.36 and a quick ratio of 3.36. Fastly, Inc. has a 1 year low of $6.84 and a 1 year high of $34.82. The firm has a 50-day moving average of $20.76 and a 200 day moving average of $20.92. The company has a market cap of $4.63 billion, a P/E ratio of -54.79 and a beta of 0.34.

Fastly (NASDAQ:FSLY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.08. Fastly had a negative return on equity of 6.31% and a negative net margin of 11.80%.The business had revenue of $183.32 million for the quarter, compared to analysts’ expectations of $173.94 million. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. On average, sell-side analysts forecast that Fastly, Inc. will post -0.29 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FSLY. Piper Sandler increased their target price on shares of Fastly from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Citigroup upped their price target on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. KeyCorp increased their price objective on Fastly from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Raymond James Financial reiterated an “outperform” rating and issued a $29.00 price objective on shares of Fastly in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada boosted their target price on Fastly from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.33.

Insider Buying and Selling

In other Fastly news, CFO Richard Wong sold 2,500 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $16.48, for a total value of $41,200.00. Following the completion of the transaction, the chief financial officer owned 1,239,301 shares in the company, valued at approximately $20,423,680.48. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Lacey Compton III sold 15,028 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.96, for a total value of $254,874.88. Following the transaction, the chief executive officer directly owned 1,073,258 shares of the company’s stock, valued at $18,202,455.68. This represents a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 166,089 shares of company stock worth $3,144,116 over the last quarter. Company insiders own 4.20% of the company’s stock.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.