Fastly (NYSE:FSLY) CTO Artur Bergman Sells 265,000 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 265,000 shares of Fastly stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $22.79, for a total transaction of $6,039,350.00. Following the completion of the sale, the chief technology officer directly owned 1,604,901 shares in the company, valued at $36,575,693.79. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, March 9th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $21.07, for a total value of $842,800.00.
• On Monday, March 2nd, Artur Bergman sold 275,234 shares of Fastly stock. The stock was sold at an average price of $20.56, for a total transaction of $5,658,811.04.
• On Thursday, March 5th, Artur Bergman sold 31,079 shares of Fastly stock. The stock was sold at an average price of $20.69, for a total transaction of $643,024.51.
• On Wednesday, March 4th, Artur Bergman sold 24,532 shares of Fastly stock. The shares were sold at an average price of $21.06, for a total transaction of $516,643.92.
• On Friday, February 27th, Artur Bergman sold 869 shares of Fastly stock. The shares were sold at an average price of $17.50, for a total transaction 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 transaction 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 transaction of $694,977.60.
• On Thursday, February 19th, Artur Bergman sold 39,881 shares of Fastly stock. The shares were sold at an average price of $18.89, for a total transaction 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 transaction of $321,465.14.
• On Tuesday, February 17th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total value of $701,200.00.

Fastly Price Performance

Fastly stock opened at $24.05 on Thursday. The firm has a market capitalization of $3.65 billion, a P/E ratio of -25.05 and a beta of 0.88. Fastly, Inc. has a one year low of $4.65 and a one year high of $25.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The business has a fifty day moving average price of $13.35 and a 200-day moving average price of $10.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada upped their price target on Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Oppenheimer started coverage on shares of Fastly in a research report on Monday, November 17th. They issued a “market perform” rating for the company. Citigroup boosted their price objective on shares of Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Piper Sandler reiterated a “neutral” rating and issued a $14.00 target price (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Finally, Wall Street Zen raised shares of Fastly from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $13.14.

Institutional Trading of Fastly

A number of large investors have recently modified their holdings of the business. Penserra Capital Management LLC bought a new position in shares of Fastly in the third quarter worth approximately $61,864,000. Alyeska Investment Group L.P. lifted its position in Fastly by 2,795.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock valued at $48,754,000 after purchasing an additional 4,623,767 shares during the last quarter. Divisadero Street Capital Management LP purchased a new position in Fastly in the 3rd quarter worth approximately $21,174,000. Marshall Wace LLP grew its stake in Fastly by 115.2% in the 2nd quarter. Marshall Wace LLP now owns 3,385,167 shares of the company’s stock worth $23,899,000 after buying an additional 1,811,935 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Fastly by 3,941.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock worth $9,383,000 after buying an additional 1,296,119 shares during the last quarter. 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.