Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 3,400 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 3,400 shares of Fastly stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $12.01, for a total transaction of $40,834.00. Following the sale, the chief technology officer now directly owns 3,444,136 shares of the company’s stock, valued at $41,364,073.36. The trade was a 0.10 % decrease in their position. The sale 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 Thursday, December 5th, Artur Bergman sold 29,641 shares of Fastly stock. The shares were sold at an average price of $10.02, for a total value of $297,002.82.
• 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 value 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 transaction 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 transaction of $396,866.46.

Fastly Stock Performance

Shares of Fastly stock opened at $10.08 on Friday. The company’s 50 day moving average price is $8.29 and its two-hundred day moving average price is $7.48. The firm has a market capitalization of $1.41 billion, a P/E ratio of -9.25 and a beta of 1.27. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

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

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently made changes to their positions in FSLY. Bank of Montreal Can raised its holdings in Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after buying an additional 1,293,490 shares during the last quarter. 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 acquiring an additional 51,224 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares during the period. XTX Topco Ltd bought a new stake in shares of Fastly in the third quarter worth $400,000. Finally, Zacks Investment Management acquired a new position in Fastly during the 3rd quarter worth about $914,000. 79.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FSLY shares. Piper Sandler boosted their price target on Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Craig Hallum increased their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley lowered their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. One equities research 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. Based on data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and a consensus price target of $8.55.

About Fastly

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.