Insider Selling: Fastly (NYSE:FSLY) CTO Sells $842,800.00 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 40,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $21.07, for a total transaction of $842,800.00. Following the completion of the transaction, the chief technology officer owned 1,869,901 shares in the company, valued at $39,398,814.07. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, March 10th, Artur Bergman sold 265,000 shares of Fastly stock. The shares were sold at an average price of $22.79, for a total transaction of $6,039,350.00.
• On Monday, March 2nd, Artur Bergman sold 275,234 shares of Fastly stock. The shares were sold at an average price of $20.56, for a total value of $5,658,811.04.
• On Thursday, March 5th, Artur Bergman sold 31,079 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total value of $643,024.51.
• On Wednesday, March 4th, Artur Bergman sold 24,532 shares of Fastly stock. The stock was sold at an average price of $21.06, for a total value of $516,643.92.
• On Friday, February 27th, Artur Bergman sold 869 shares of Fastly stock. The stock was sold at an average price of $17.50, for a total value of $15,207.50.
• On Monday, February 23rd, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.08, for a total value of $683,200.00.
• On Thursday, February 19th, Artur Bergman sold 34,576 shares of Fastly stock. The stock was 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 stock was 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.

Fastly Stock Performance

FSLY stock opened at $24.58 on Friday. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $25.79. The business has a 50-day moving average price of $13.91 and a 200 day moving average price of $10.96. The company has a market capitalization of $3.73 billion, a P/E ratio of -25.60 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of Fastly from $12.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Oppenheimer initiated coverage on shares of Fastly in a report on Monday, November 17th. They set a “market perform” rating on the stock. Citigroup boosted their price objective on shares of Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. DA Davidson set a $13.00 target price on Fastly in a report on Thursday, February 12th. Finally, KeyCorp raised Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a research report on Monday, December 15th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.14.

Institutional Investors Weigh In On Fastly

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Fastly by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock valued at $142,500,000 after purchasing an additional 554,909 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Fastly during the 2nd quarter worth approximately $171,000. Knights of Columbus Asset Advisors LLC purchased a new stake in Fastly during the 3rd quarter worth approximately $1,002,000. Geode Capital Management LLC increased its stake in Fastly by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,212,253 shares of the company’s stock valued at $22,681,000 after purchasing an additional 189,423 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in Fastly during the 3rd quarter valued at approximately $781,000. 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.