Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells $80,811.96 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 8,049 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $10.04, for a total value of $80,811.96. Following the sale, the chief technology officer now owns 3,426,087 shares in the company, valued at approximately $34,397,913.48. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, December 23rd, Artur Bergman sold 10,000 shares of Fastly stock. The shares were 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 transaction 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 shares were 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 stock was 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 shares were sold at an average price of $8.07, for a total value of $396,866.46.

Fastly Trading Down 2.8 %

Shares of Fastly stock opened at $9.45 on Thursday. The company has a 50 day simple moving average of $8.92 and a two-hundred day simple moving average of $7.70. The firm has a market cap of $1.33 billion, a PE ratio of -8.67 and a beta of 1.24. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) EPS. Analysts expect that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FSLY. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada raised their price target on shares of Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Monday, December 2nd. Piper Sandler increased their price objective on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Craig Hallum boosted their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.85.

Hedge Funds Weigh In On Fastly

Several institutional investors have recently modified their holdings of FSLY. Point72 DIFC Ltd bought a new stake in Fastly in the 2nd quarter worth approximately $38,000. FMR LLC lifted its holdings in shares of Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Fastly by 95.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after purchasing an additional 4,318 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Fastly during the 3rd quarter valued at $89,000. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Fastly in the second quarter worth $114,000. 79.71% of the stock is currently owned by institutional investors.

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.