Artur Bergman Sells 7,889 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 7,889 shares of Fastly stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $20.96, for a total transaction of $165,353.44. Following the sale, the chief technology officer owned 2,038,638 shares in the company, valued at approximately $42,729,852.48. The trade was a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 29th, Artur Bergman sold 6,225 shares of Fastly stock. The shares were sold at an average price of $16.96, for a total transaction of $105,576.00.
• On Thursday, May 28th, Artur Bergman sold 1,077 shares of Fastly stock. The shares were sold at an average price of $17.02, for a total transaction of $18,330.54.
• On Wednesday, May 27th, Artur Bergman sold 852 shares of Fastly stock. The shares were sold at an average price of $17.50, for a total transaction of $14,910.00.
• On Tuesday, May 19th, Artur Bergman sold 31,848 shares of Fastly stock. The shares were sold at an average price of $16.41, for a total transaction of $522,625.68.
• On Monday, May 18th, Artur Bergman sold 32,181 shares of Fastly stock. The shares were sold at an average price of $16.85, for a total transaction of $542,249.85.
• 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 9th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $21.07, for a total transaction of $842,800.00.

Fastly Trading Down 9.2%

Fastly stock opened at $18.07 on Friday. The stock has a market cap of $2.83 billion, a P/E ratio of -18.82 and a beta of 0.37. 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, Inc. has a 1 year low of $6.29 and a 1 year high of $34.82. The firm’s 50 day moving average price is $23.34 and its 200-day moving average price is $17.14.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Raymond James Financial upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Friday, May 8th. KeyCorp boosted their price target on shares of Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a research report on Tuesday, April 14th. Evercore assumed coverage on shares of Fastly in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, DA Davidson set a $13.00 price target on shares of Fastly in a research report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fastly presently has a consensus rating of “Hold” and a consensus price target of $22.63.

Institutional Investors Weigh In On Fastly

Large investors have recently bought and sold shares of the business. Divisadero Street Capital Management LP bought a new stake in Fastly in the third quarter worth $21,174,000. Vanguard Group Inc. boosted its stake in Fastly by 3.4% during the third quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock worth $142,500,000 after buying an additional 554,909 shares during the period. Picton Mahoney Asset Management purchased a new position in Fastly during the third quarter worth $781,000. Algert Global LLC boosted its stake in Fastly by 288.8% during the third quarter. Algert Global LLC now owns 1,521,733 shares of the company’s stock worth $13,011,000 after buying an additional 1,130,293 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Fastly by 10.1% during the fourth quarter. ProShare Advisors LLC now owns 26,553 shares of the company’s stock worth $270,000 after buying an additional 2,435 shares during the period. 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.