Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 8,049 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 8,049 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.04, for a total value of $80,811.96. Following the completion of the sale, the chief technology officer now owns 3,426,087 shares in the company, valued at $34,397,913.48. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, December 23rd, Artur Bergman sold 10,000 shares of Fastly stock. The shares were sold at an average price of $10.09, for a total transaction of $100,900.00.
• On Wednesday, December 18th, Artur Bergman sold 3,400 shares of Fastly stock. The stock was 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 shares were sold at an average price of $10.02, for a total value of $297,002.82.
• On Monday, December 2nd, Artur Bergman sold 29,858 shares of Fastly stock. The shares were 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 transaction of $105,762.50.
• On Wednesday, November 6th, Artur Bergman sold 49,178 shares of Fastly stock. The stock was sold at an average price of $8.07, for a total transaction of $396,866.46.

Fastly Trading Down 2.8 %

FSLY opened at $9.45 on Thursday. The company’s 50 day moving average is $8.92 and its 200-day moving average is $7.70. The company has a market cap of $1.33 billion, a P/E ratio of -8.67 and a beta of 1.24. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. During the same period in the prior year, the business earned ($0.33) earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FSLY. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Monday, December 2nd. DA Davidson upped their target price on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird raised their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Raymond James cut shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada raised their target price on shares of Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. One 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, Fastly presently has an average rating of “Hold” and a consensus target price of $8.85.

Hedge Funds Weigh In On Fastly

Several large investors have recently bought and sold shares of FSLY. Bank of Montreal Can boosted its position in Fastly by 11,140.2% during the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after buying an additional 1,293,490 shares during the period. Quadrature Capital Ltd lifted its holdings in Fastly by 84.2% during the 3rd quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after buying an additional 51,224 shares during the period. Penserra Capital Management LLC grew its position in shares of Fastly by 18.8% in the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after buying an additional 801,968 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Fastly in the third quarter valued at about $400,000. Finally, Zacks Investment Management bought a new position in shares of Fastly during the third quarter worth about $914,000. 79.71% of the stock is currently owned by institutional investors.

About Fastly

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.