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

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $8.84, for a total transaction of $176,800.00. Following the sale, the chief technology officer owned 2,540,214 shares of the company’s stock, valued at approximately $22,455,491.76. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, February 2nd, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $9.36, for a total transaction of $187,200.00.
• 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 shares were sold at an average price of $8.18, for a total value of $163,600.00.
• On Monday, January 12th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was 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 transaction of $410,800.00.
• On Monday, December 29th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was 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 shares were sold at an average price of $10.59, for a total transaction 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 shares were sold at an average price of $10.50, for a total value of $420,000.00.

Fastly Trading Up 2.4%

Shares of FSLY stock traded up $0.22 on Wednesday, hitting $9.31. The stock had a trading volume of 12,391,103 shares, compared to its average volume of 3,672,748. The company’s 50 day moving average price is $9.84 and its 200-day moving average price is $9.01. Fastly, Inc. has a 1 year low of $4.65 and a 1 year high of $12.59. The firm has a market capitalization of $1.39 billion, a P/E ratio of -9.70 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

Hedge Funds Weigh In On Fastly

Hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC acquired a new stake in Fastly during the third quarter worth approximately $61,864,000. Divisadero Street Capital Management LP purchased a new position in shares of Fastly in the 3rd quarter valued at $21,174,000. Marshall Wace LLP grew its position in shares of Fastly by 115.2% in the 2nd quarter. Marshall Wace LLP now owns 3,385,167 shares of the company’s stock valued at $23,899,000 after buying an additional 1,811,935 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in Fastly by 3,941.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock worth $9,383,000 after acquiring an additional 1,296,119 shares in the last quarter. Finally, Algert Global LLC lifted its position in Fastly by 288.8% in the third quarter. Algert Global LLC now owns 1,521,733 shares of the company’s stock valued at $13,011,000 after acquiring an additional 1,130,293 shares during the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup dropped their price objective on shares of Fastly from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, January 16th. Oppenheimer initiated coverage on shares of Fastly in a research note on Monday, November 17th. They issued a “market perform” rating for the company. Royal Bank Of Canada increased their price objective on Fastly from $9.00 to $10.00 and gave the company a “sector perform” rating in a research note on Monday, January 5th. KeyCorp raised Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a research report on Monday, December 15th. Finally, Piper Sandler lifted their price objective on Fastly from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Fastly currently has a consensus rating of “Hold” and a consensus target price of $10.29.

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.