Royal Bank of Canada Increases Position in Fastly, Inc. $FSLY

Royal Bank of Canada raised its holdings in shares of Fastly, Inc. (NASDAQ:FSLY) by 75.6% in the first quarter, Holdings Channel.com reports. The firm 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 large investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after purchasing an additional 633 shares in the last quarter. Sound Income Strategies LLC bought a new position in Fastly during the 1st quarter valued at approximately $44,000. Caitong International Asset Management Co. Ltd bought a new position in Fastly during the 4th quarter valued at approximately $41,000. Align Financial LLC purchased a new position in Fastly during the fourth quarter valued at $41,000. Finally, KBC Group NV purchased a new position in Fastly during the first quarter valued at $127,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FSLY has been the topic of a number of recent research reports. Royal Bank Of Canada increased their target price on Fastly from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 6th. Freedom Capital raised Fastly to a “strong-buy” rating in a research report on Thursday, July 16th. Piper Sandler upped their price target on shares of Fastly from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fastly in a research report on Friday, August 7th. Finally, Canaccord Genuity Group started coverage on shares of Fastly in a research note on Friday, July 17th. They set a “buy” rating and a $27.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.33.

Insider Activity

In related news, Director Richard Devon Daniels sold 11,080 shares of Fastly stock in a transaction on Friday, August 7th. The stock was sold at an average price of $22.90, for a total value of $253,732.00. Following the completion of the sale, the director owned 51,197 shares of the company’s stock, valued at $1,172,411.30. The trade was a 17.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Artur Bergman sold 7,889 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $20.96, for a total value of $165,353.44. Following the sale, the chief technology officer owned 2,038,638 shares of the company’s stock, valued at approximately $42,729,852.48. This trade represents a 0.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 166,089 shares of company stock worth $3,144,116. Insiders own 4.20% of the company’s stock.

Fastly Stock Performance

Shares of FSLY stock opened at $29.04 on Tuesday. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average price of $20.76 and a 200-day moving average price of $20.92. Fastly, Inc. has a 52 week low of $6.84 and a 52 week high of $34.82. The firm has a market capitalization of $4.63 billion, a PE ratio of -54.79 and a beta of 0.34.

Fastly (NASDAQ:FSLY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. Fastly had a negative net margin of 11.80% and a negative return on equity of 6.31%. The company had revenue of $183.32 million for the quarter, compared to the consensus estimate 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. As a group, equities research analysts expect that Fastly, Inc. will post -0.29 earnings per share for the current year.

Fastly Company Profile

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.