Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 3,400 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 3,400 shares of Fastly stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value of $40,834.00. Following the completion of the sale, the chief technology officer now directly owns 3,444,136 shares in the company, valued at $41,364,073.36. This represents a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 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 transaction of $396,866.46.

Fastly Stock Performance

FSLY stock traded up $0.10 during mid-day trading on Friday, hitting $10.08. 5,380,159 shares of the company were exchanged, compared to its average volume of 3,612,896. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The stock has a market capitalization of $1.41 billion, a PE ratio of -9.25 and a beta of 1.27. The business has a 50 day simple moving average of $8.23 and a 200-day simple moving average of $7.46. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

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

Analyst Ratings Changes

Several research firms recently issued reports on FSLY. Robert W. Baird upped their target price on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Monday, December 2nd. Piper Sandler boosted their price objective on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada boosted their price target on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.55.

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently bought and sold shares of FSLY. Geode Capital Management LLC grew its position 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 purchasing an additional 46,951 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Fastly during the third quarter worth approximately $183,000. XTX Topco Ltd bought a new position in Fastly during the 3rd quarter worth $400,000. Zacks Investment Management acquired a new position in Fastly in the 3rd quarter valued at $914,000. Finally, Quadrature Capital Ltd lifted its position in shares of Fastly by 84.2% during the 3rd quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock valued at $848,000 after acquiring an additional 51,224 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 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.