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

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.09, for a total value of $100,900.00. Following the sale, the chief technology officer now directly owns 3,434,136 shares of the company’s stock, valued at $34,650,432.24. This represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 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 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 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 value of $396,866.46.

Fastly Stock Performance

Fastly stock opened at $9.60 on Friday. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $8.56 and its 200-day moving average price is $7.56. The company has a market cap of $1.35 billion, a PE ratio of -8.81 and a beta of 1.27.

Fastly (NYSE:FSLY) last released 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 firm had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) EPS. On average, equities research analysts forecast that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Fastly

Several institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC lifted its stake in Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Fastly by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock worth $22,831,000 after acquiring an additional 46,951 shares during the last quarter. Bank of Montreal Can grew its position in Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after acquiring an additional 1,293,490 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Fastly by 18.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after purchasing an additional 161,070 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Fastly by 461.5% during the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after purchasing an additional 621,680 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLY has been the subject of several research analyst reports. Piper Sandler increased their target price on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. DA Davidson upped their target price 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. Robert W. Baird lifted their price target on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Craig Hallum boosted their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. One 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 company. According to data from MarketBeat.com, Fastly currently has a consensus rating of “Hold” and an average 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.