Insider Selling: Fastly (NYSE:FSLY) CTO Sells 40,000 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $17.08, for a total value of $683,200.00. Following the completion of the transaction, the chief technology officer directly owned 2,185,135 shares in the company, valued at $37,322,105.80. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, February 19th, Artur Bergman sold 34,576 shares of Fastly stock. The shares were sold at an average price of $20.10, for a total value of $694,977.60.
• On Thursday, February 19th, Artur Bergman sold 39,881 shares of Fastly stock. The stock was sold at an average price of $18.89, for a total value of $753,352.09.
• On Wednesday, February 18th, Artur Bergman sold 18,338 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total value of $321,465.14.
• On Tuesday, February 17th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total value of $701,200.00.
• On Friday, February 13th, Artur Bergman sold 200,847 shares of Fastly stock. The stock was sold at an average price of $18.42, for a total value of $3,699,601.74.
• On Friday, February 13th, Artur Bergman sold 20,128 shares of Fastly stock. The stock was sold at an average price of $18.25, for a total value of $367,336.00.
• On Monday, February 9th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.84, for a total transaction of $176,800.00.
• On Monday, February 2nd, Artur Bergman sold 20,000 shares of Fastly stock. The shares were 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 transaction 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 transaction of $304,345.60.

Fastly Stock Performance

FSLY stock traded up $0.48 on Wednesday, hitting $18.15. The company had a trading volume of 7,882,074 shares, compared to its average volume of 10,998,857. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $20.27. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $11.08 and its 200 day simple moving average is $9.72. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -18.91 and a beta of 1.03.

Analyst Ratings Changes

FSLY has been the subject of several research analyst reports. DA Davidson set a $13.00 price objective on Fastly in a report on Thursday, February 12th. Oppenheimer began coverage on Fastly in a research report on Monday, November 17th. They issued a “market perform” rating on the stock. KeyCorp upgraded Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price target for the company in a research note on Monday, December 15th. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Finally, Piper Sandler reissued a “neutral” rating and issued a $14.00 price objective (up from $11.00) on shares of Fastly in a report on Thursday, February 12th. Three 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Align Financial LLC purchased a new position in shares of Fastly during the 4th quarter valued at about $41,000. Byrne Asset Management LLC bought a new stake in Fastly during the 3rd quarter worth approximately $43,000. C M Bidwell & Associates Ltd. purchased a new position in Fastly during the fourth quarter valued at approximately $54,000. Quarry LP purchased a new position in Fastly during the third quarter valued at approximately $49,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Fastly in the third quarter worth approximately $56,000. Institutional investors own 79.71% of the company’s stock.

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.