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

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 20,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $9.36, for a total value of $187,200.00. Following the sale, the chief technology officer owned 2,550,579 shares of the company’s stock, valued at approximately $23,873,419.44. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, January 27th, Artur Bergman sold 49,320 shares of Fastly stock. The stock was sold at an average price of $10.40, for a total value of $512,928.00.
• On Monday, January 26th, Artur Bergman sold 30,680 shares of Fastly stock. The shares were sold at an average price of $9.92, for a total value of $304,345.60.
• On Tuesday, January 20th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.18, for a total transaction of $163,600.00.
• On Monday, January 12th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $9.35, for a total value of $187,000.00.
• On Monday, January 5th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $10.27, for a total value of $410,800.00.
• On Monday, December 29th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $10.23, for a total transaction of $409,200.00.
• On Monday, December 22nd, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $10.59, for a total value of $423,600.00.
• On Monday, December 15th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $10.50, for a total transaction of $420,000.00.
• On Monday, December 15th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $10.50, for a total value of $420,000.00.
• On Monday, December 8th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $10.66, for a total transaction of $426,400.00.

Fastly Stock Performance

Shares of FSLY stock opened at $8.31 on Thursday. The stock has a 50-day moving average of $10.09 and a 200-day moving average of $8.96. The stock has a market cap of $1.24 billion, a PE ratio of -8.66 and a beta of 0.98. Fastly, Inc. has a one year low of $4.65 and a one year high of $12.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Fastly had a negative net margin of 23.49% and a negative return on equity of 12.02%. The business had revenue of $158.22 million for the quarter, compared to analyst estimates of $151.04 million. During the same period last year, the business posted $0.02 earnings per share. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts expect that Fastly, Inc. will post -0.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FSLY shares. Wall Street Zen raised Fastly from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fastly in a research note on Wednesday, October 8th. DA Davidson lifted their target price on Fastly from $9.50 to $11.50 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. KeyCorp upgraded shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price target for the company in a report on Monday, December 15th. Finally, Royal Bank Of Canada raised their price objective on shares of Fastly from $9.00 to $10.00 and gave the company a “sector perform” rating in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fastly presently has a consensus rating of “Hold” and a consensus target price of $10.64.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FSLY. Byrne Asset Management LLC purchased a new position in shares of Fastly during the third quarter worth about $43,000. Quarry LP purchased a new stake in shares of Fastly during the third quarter worth about $49,000. Geneos Wealth Management Inc. purchased a new stake in Fastly in the first quarter worth $52,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Fastly during the 3rd quarter valued at about $56,000. Finally, State of Alaska Department of Revenue bought a new stake in Fastly during the 3rd quarter valued at approximately $57,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

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.