Fastly (NYSE:FSLY) CTO Sells $187,200.00 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 20,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $9.36, for a total value of $187,200.00. Following the completion of the sale, the chief technology officer directly owned 2,550,579 shares of the company’s stock, valued at approximately $23,873,419.44. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Artur Bergman also recently made the following trade(s):

• On Tuesday, January 27th, Artur Bergman sold 49,320 shares of Fastly stock. The stock was sold at an average price of $10.40, for a total value of $512,928.00.
• On Monday, January 26th, Artur Bergman sold 30,680 shares of Fastly stock. The shares were sold at an average price of $9.92, for a total value of $304,345.60.
• On Tuesday, January 20th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.18, for a total value of $163,600.00.
• On Monday, January 12th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $9.35, for a total transaction of $187,000.00.
• On Monday, January 5th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $10.27, for a total transaction of $410,800.00.
• On Monday, December 29th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $10.23, for a total transaction of $409,200.00.
• On Monday, December 22nd, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $10.59, for a total transaction of $423,600.00.
• On Monday, December 15th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $10.50, for a total transaction of $420,000.00.
• On Monday, December 15th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $10.50, for a total transaction of $420,000.00.
• On Monday, December 8th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $10.66, for a total transaction of $426,400.00.

Fastly Stock Performance

Shares of NYSE FSLY opened at $8.57 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $9.95 and its two-hundred day moving average price is $8.96. Fastly, Inc. has a 52-week low of $4.65 and a 52-week high of $12.59. The stock has a market capitalization of $1.28 billion, a P/E ratio of -8.93 and a beta of 1.03.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $158.22 million during the quarter, compared to analyst estimates of $151.04 million. Fastly had a negative return on equity of 12.02% and a negative net margin of 23.49%.The business’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share. As a group, sell-side analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Analysts Set New Price Targets

FSLY has been the topic of a number of recent research reports. Citigroup cut their target price on Fastly from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, January 16th. Piper Sandler increased their price objective on shares of Fastly from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Royal Bank Of Canada boosted their target price on shares of Fastly from $9.00 to $10.00 and gave the company a “sector perform” rating in a research note on Monday, January 5th. Wall Street Zen upgraded shares of Fastly from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, DA Davidson raised their price target on shares of Fastly from $9.50 to $11.50 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.64.

Hedge Funds Weigh In On Fastly

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Byrne Asset Management LLC bought a new stake in shares of Fastly during the 3rd quarter worth about $43,000. Quarry LP acquired a new position in shares of Fastly during the third quarter valued at approximately $49,000. Geneos Wealth Management Inc. bought a new stake in Fastly during the first quarter worth approximately $52,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Fastly in the third quarter worth approximately $56,000. Finally, State of Alaska Department of Revenue acquired a new stake in Fastly in the third quarter worth approximately $57,000. Institutional investors own 79.71% 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.