Fastly (NYSE:FSLY) CTO Artur Bergman Sells 20,000 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $8.76, for a total transaction of $175,200.00. Following the completion of the transaction, the chief technology officer owned 3,421,276 shares in the company, valued at approximately $29,970,377.76. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, September 29th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.53, for a total transaction of $170,600.00.
• On Monday, September 22nd, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00.
• On Monday, September 15th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.56, for a total transaction of $171,200.00.
• On Monday, September 8th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $7.45, for a total transaction of $149,000.00.
• On Tuesday, September 2nd, Artur Bergman sold 58,138 shares of Fastly stock. The shares were sold at an average price of $7.41, for a total transaction of $430,802.58.
• On Wednesday, August 27th, Artur Bergman sold 849 shares of Fastly stock. The shares were sold at an average price of $7.30, for a total transaction of $6,197.70.
• On Tuesday, August 19th, Artur Bergman sold 19,353 shares of Fastly stock. The shares were sold at an average price of $7.33, for a total transaction of $141,857.49.
• On Monday, August 18th, Artur Bergman sold 26,418 shares of Fastly stock. The shares were sold at an average price of $6.88, for a total transaction of $181,755.84.

Fastly Stock Up 4.1%

Fastly stock opened at $8.57 on Thursday. The firm has a market cap of $1.26 billion, a PE ratio of -8.32 and a beta of 1.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 1.49. The firm’s 50 day moving average price is $7.72 and its two-hundred day moving average price is $7.08. Fastly, Inc. has a twelve month low of $4.65 and a twelve month high of $12.08.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $148.71 million during the quarter, compared to the consensus estimate of $144.86 million. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. On average, research analysts predict that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on FSLY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Fastly in a research report on Wednesday. Royal Bank Of Canada boosted their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Finally, Craig Hallum raised shares of Fastly from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fastly currently has a consensus rating of “Hold” and a consensus price target of $8.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Advisory LLC grew its stake in Fastly by 4.4% in the 1st quarter. Vident Advisory LLC now owns 34,316 shares of the company’s stock valued at $217,000 after buying an additional 1,438 shares during the last quarter. Hsbc Holdings PLC grew its stake in Fastly by 6.1% in the 1st quarter. Hsbc Holdings PLC now owns 27,938 shares of the company’s stock valued at $175,000 after buying an additional 1,612 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Fastly by 12.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,852 shares of the company’s stock valued at $113,000 after buying an additional 1,975 shares during the last quarter. Federated Hermes Inc. grew its position in Fastly by 0.9% in the 1st quarter. Federated Hermes Inc. now owns 211,638 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,988 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Fastly by 12.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,433 shares of the company’s stock worth $137,000 after purchasing an additional 2,210 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.