Fastly (NYSE:FSLY) CTO Artur Bergman Sells 7,889 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 7,889 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $20.96, for a total transaction of $165,353.44. Following the sale, the chief technology officer directly owned 2,038,638 shares of the company’s stock, valued at approximately $42,729,852.48. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 29th, Artur Bergman sold 6,225 shares of Fastly stock. The stock was sold at an average price of $16.96, for a total transaction of $105,576.00.
• On Thursday, May 28th, Artur Bergman sold 1,077 shares of Fastly stock. The stock was sold at an average price of $17.02, for a total transaction of $18,330.54.
• On Wednesday, May 27th, Artur Bergman sold 852 shares of Fastly stock. The stock was sold at an average price of $17.50, for a total transaction of $14,910.00.
• On Tuesday, May 19th, Artur Bergman sold 31,848 shares of Fastly stock. The stock was sold at an average price of $16.41, for a total transaction of $522,625.68.
• On Monday, May 18th, Artur Bergman sold 32,181 shares of Fastly stock. The stock was sold at an average price of $16.85, for a total transaction of $542,249.85.
• On Tuesday, March 10th, Artur Bergman sold 265,000 shares of Fastly stock. The stock was sold at an average price of $22.79, for a total transaction of $6,039,350.00.
• On Monday, March 9th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $21.07, for a total transaction of $842,800.00.

Fastly Trading Down 9.2%

Shares of FSLY traded down $1.84 on Friday, reaching $18.07. 7,975,609 shares of the company’s stock were exchanged, compared to its average volume of 11,636,831. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $2.83 billion, a P/E ratio of -18.82 and a beta of 0.37. The business has a 50 day moving average price of $23.57 and a two-hundred day moving average price of $17.14. Fastly, Inc. has a 12 month low of $6.29 and a 12 month high of $34.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FSLY shares. KeyCorp upped their target price on shares of Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Raymond James Financial raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Friday, May 8th. Citigroup upped their target price on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Royal Bank Of Canada lowered their target price on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Finally, Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research note on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.63.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Fastly by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock valued at $172,825,000 after buying an additional 310,234 shares during the period. Morgan Stanley boosted its holdings in shares of Fastly by 14.7% in the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock valued at $84,893,000 after buying an additional 1,071,222 shares during the period. First Trust Advisors LP boosted its holdings in shares of Fastly by 100.5% in the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock valued at $204,349,000 after buying an additional 3,524,763 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of Fastly by 2,795.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock valued at $48,754,000 after buying an additional 4,623,767 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Fastly by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 4,137,808 shares of the company’s stock valued at $35,380,000 after buying an additional 117,213 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.