Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 10,000 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.09, for a total value of $100,900.00. Following the completion of the transaction, the chief technology officer now directly owns 3,434,136 shares in the company, valued at approximately $34,650,432.24. This represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 18th, Artur Bergman sold 3,400 shares of Fastly stock. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00.
• On Thursday, December 5th, Artur Bergman sold 29,641 shares of Fastly stock. The stock was sold at an average price of $10.02, for a total transaction of $297,002.82.
• On Monday, December 2nd, Artur Bergman sold 29,858 shares of Fastly stock. The stock was sold at an average price of $10.07, for a total transaction of $300,670.06.
• On Monday, November 18th, Artur Bergman sold 16,922 shares of Fastly stock. The shares were sold at an average price of $6.25, for a total value of $105,762.50.
• On Wednesday, November 6th, Artur Bergman sold 49,178 shares of Fastly stock. The shares were sold at an average price of $8.07, for a total value of $396,866.46.

Fastly Price Performance

Fastly stock opened at $10.13 on Friday. The stock has a 50-day moving average price of $8.52 and a two-hundred day moving average price of $7.55. Fastly, Inc. has a 12 month low of $5.52 and a 12 month high of $25.87. The company has a market capitalization of $1.42 billion, a PE ratio of -9.29 and a beta of 1.27. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. During the same quarter last year, the business earned ($0.33) EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts expect that Fastly, Inc. will post -0.86 EPS for the current year.

Hedge Funds Weigh In On Fastly

A number of hedge funds have recently modified their holdings of FSLY. Point72 DIFC Ltd bought a new position in Fastly during the 2nd quarter worth $38,000. FMR LLC raised its position in shares of Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Fastly by 95.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after acquiring an additional 4,318 shares during the period. Aigen Investment Management LP bought a new stake in Fastly in the third quarter valued at approximately $89,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Fastly during the 2nd quarter valued at approximately $103,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on FSLY shares. Royal Bank of Canada raised their price target on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Piper Sandler boosted their target price on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. DA Davidson increased their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum boosted their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird raised their target price on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.55.

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.