Fastly (NYSE:FSLY) CTO Artur Bergman Sells 18,338 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 18,338 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $17.53, for a total transaction of $321,465.14. Following the sale, the chief technology officer owned 1,882,413 shares of the company’s stock, valued at approximately $32,998,699.89. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, February 17th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total value of $701,200.00.
• On Friday, February 13th, Artur Bergman sold 200,847 shares of Fastly stock. The shares were sold at an average price of $18.42, for a total value of $3,699,601.74.
• On Friday, February 13th, Artur Bergman sold 20,128 shares of Fastly stock. The stock was sold at an average price of $18.25, for a total value of $367,336.00.
• On Monday, February 9th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.84, for a total value of $176,800.00.
• On Monday, February 2nd, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $9.36, for a total value of $187,200.00.
• 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 transaction 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 transaction 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 value of $410,800.00.

Fastly Stock Up 0.1%

FSLY stock traded up $0.01 during trading on Friday, reaching $18.08. 21,600,723 shares of the stock were exchanged, compared to its average volume of 10,898,874. The firm’s 50 day moving average is $10.63 and its 200 day moving average is $9.46. The firm has a market cap of $2.70 billion, a P/E ratio of -18.83 and a beta of 1.03. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a twelve month low of $4.65 and a twelve month high of $20.27.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FSLY. Oppenheimer began coverage on shares of Fastly in a research note on Monday, November 17th. They set a “market perform” rating for the company. Wall Street Zen raised shares of Fastly from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. DA Davidson set a $13.00 price target on Fastly in a research note on Thursday, February 12th. Finally, Piper Sandler reissued a “neutral” rating and set a $14.00 price objective (up from $11.00) on shares of Fastly in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FSLY. Vanguard Group Inc. increased its position in shares of Fastly by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock valued at $172,825,000 after purchasing an additional 310,234 shares during the last quarter. Legal & General Group Plc grew its position in Fastly by 3.4% during the second quarter. Legal & General Group Plc now owns 8,943,224 shares of the company’s stock valued at $63,139,000 after buying an additional 291,617 shares during the period. Morgan Stanley increased its holdings in Fastly by 14.7% during the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after buying an additional 1,071,222 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Fastly in the third quarter worth about $61,864,000. Finally, Alyeska Investment Group L.P. boosted its stake in Fastly by 2,795.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock valued at $48,754,000 after acquiring an additional 4,623,767 shares during the last quarter. 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.