Fastly, Inc. (NYSE:FSLY) CTO Sells $102,100.00 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $10.21, for a total transaction of $102,100.00. Following the completion of the transaction, the chief technology officer now owns 3,374,136 shares in the company, valued at approximately $34,449,928.56. This represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, January 27th, Artur Bergman sold 10,000 shares of Fastly stock. The stock was sold at an average price of $10.12, for a total value of $101,200.00.
• On Thursday, January 23rd, Artur Bergman sold 31,551 shares of Fastly stock. The shares were sold at an average price of $10.31, for a total value of $325,290.81.
• On Monday, January 6th, Artur Bergman sold 8,049 shares of Fastly stock. The stock was sold at an average price of $10.04, for a total transaction of $80,811.96.
• On Monday, December 23rd, Artur Bergman sold 10,000 shares of Fastly stock. The stock was 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 shares were sold at an average price of $12.01, for a total value 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 value 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 transaction of $105,762.50.

Fastly Stock Performance

FSLY traded down $0.29 during trading on Wednesday, reaching $10.24. The company’s stock had a trading volume of 2,998,990 shares, compared to its average volume of 2,336,199. The company’s fifty day moving average price is $9.88 and its 200-day moving average price is $8.02. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -9.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. Fastly, Inc. has a 52-week low of $5.52 and a 52-week high of $25.87.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. The company had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Fastly’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.33) earnings per share. On average, equities analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Trading of Fastly

Several large investors have recently modified their holdings of the business. Versor Investments LP acquired a new stake in shares of Fastly during the 4th quarter worth about $151,000. Proficio Capital Partners LLC acquired a new stake in Fastly during the fourth quarter worth approximately $181,000. Oppenheimer & Co. Inc. purchased a new stake in Fastly in the 4th quarter worth approximately $149,000. Rhumbline Advisers raised its holdings in Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock valued at $1,814,000 after acquiring an additional 3,081 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Fastly by 239.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 64,500 shares of the company’s stock worth $609,000 after purchasing an additional 45,500 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FSLY. Piper Sandler boosted their price target 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. Craig Hallum boosted their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Monday, December 2nd. DA Davidson boosted their price objective on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird raised their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Fastly has a consensus rating of “Hold” and a consensus price target of $8.85.

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.