Fastly, Inc. (NYSE:FSLY) CTO Sells $297,002.82 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 29,641 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $10.02, for a total value of $297,002.82. Following the completion of the sale, the chief technology officer now owns 6,058,595 shares of the company’s stock, valued at approximately $60,707,121.90. This trade represents a 0.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, December 2nd, Artur Bergman sold 29,858 shares of Fastly stock. The stock was sold at an average price of $10.07, for a total transaction of $300,670.06.
• On Monday, November 18th, Artur Bergman sold 16,922 shares of Fastly stock. The shares were sold at an average price of $6.25, for a total value of $105,762.50.
• On Wednesday, November 6th, Artur Bergman sold 49,178 shares of Fastly stock. The stock was sold at an average price of $8.07, for a total value of $396,866.46.

Fastly Stock Performance

FSLY stock traded up $0.44 during midday trading on Monday, reaching $11.34. The company had a trading volume of 6,999,604 shares, compared to its average volume of 3,594,137. The firm has a market capitalization of $1.59 billion, a PE ratio of -10.40 and a beta of 1.27. The stock has a 50 day moving average price of $7.72 and a 200 day moving average price of $7.32. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. During the same quarter last year, the business posted ($0.33) EPS. The business’s revenue was up 7.3% on a year-over-year basis. Analysts anticipate that Fastly, Inc. will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On Fastly

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of Fastly by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock valued at $22,831,000 after buying an additional 46,951 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Fastly in the 3rd quarter valued at approximately $183,000. XTX Topco Ltd acquired a new stake in Fastly in the 3rd quarter valued at approximately $400,000. Zacks Investment Management bought a new stake in Fastly during the 3rd quarter valued at $914,000. Finally, Quadrature Capital Ltd raised its stake in shares of Fastly by 84.2% during the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock valued at $848,000 after purchasing an additional 51,224 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 27th. Robert W. Baird raised their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Craig Hallum upped their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. DA Davidson lifted their price target on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and a consensus price target of $8.55.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.