Fastly (NYSE:FSLY) CTO Artur Bergman Sells 852 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 852 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $17.50, for a total transaction of $14,910.00. Following the completion of the sale, the chief technology officer owned 2,053,829 shares of the company’s stock, valued at approximately $35,942,007.50. This trade represents a 0.04% decrease in their position. 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 Thursday, May 28th, Artur Bergman sold 1,077 shares of Fastly stock. The shares were sold at an average price of $17.02, for a total transaction of $18,330.54.
• On Tuesday, May 19th, Artur Bergman sold 31,848 shares of Fastly stock. The shares were 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 shares were 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 shares were 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 shares were sold at an average price of $21.07, for a total transaction of $842,800.00.
• On Monday, March 2nd, Artur Bergman sold 275,234 shares of Fastly stock. The shares were sold at an average price of $20.56, for a total transaction of $5,658,811.04.
• On Thursday, March 5th, Artur Bergman sold 31,079 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total transaction of $643,024.51.
• On Wednesday, March 4th, Artur Bergman sold 24,532 shares of Fastly stock. The shares were sold at an average price of $21.06, for a total transaction of $516,643.92.

Fastly Stock Performance

Shares of FSLY opened at $17.76 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $2.78 billion, a P/E ratio of -18.50 and a beta of 0.49. The company’s fifty day moving average is $24.13 and its two-hundred day moving average is $16.86. Fastly, Inc. has a 1 year low of $6.29 and a 1 year high of $34.82.

Analyst Ratings Changes

Several brokerages have issued reports on FSLY. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, April 14th. Piper Sandler dropped their price objective on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Royal Bank Of Canada dropped their price objective on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Finally, KeyCorp boosted their price objective 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. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Fastly has a consensus rating of “Hold” and a consensus target price of $22.63.

Hedge Funds Weigh In On Fastly

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in Fastly by 39.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock valued at $64,000 after purchasing an additional 627 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after purchasing an additional 633 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in Fastly by 8.4% in the 4th quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock valued at $122,000 after purchasing an additional 930 shares in the last quarter. Arizona State Retirement System lifted its holdings in Fastly by 3.2% in the 3rd quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock valued at $348,000 after purchasing an additional 1,253 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. lifted its holdings in Fastly by 13.8% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock valued at $103,000 after purchasing an additional 1,465 shares in the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

Fastly Company Profile

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.