Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells 8,049 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 8,049 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.04, for a total transaction of $80,811.96. Following the completion of the sale, the chief technology officer now directly owns 3,426,087 shares in the company, valued at approximately $34,397,913.48. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, December 23rd, Artur Bergman sold 10,000 shares of Fastly stock. The shares were sold at an average price of $10.09, for a total value of $100,900.00.
• On Wednesday, December 18th, Artur Bergman sold 3,400 shares of Fastly stock. The stock was sold at an average price of $12.01, for a total value of $40,834.00.
• On Thursday, December 5th, Artur Bergman sold 29,641 shares of Fastly stock. The stock was 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 shares were 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 stock was 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 FSLY opened at $9.45 on Friday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -8.67 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The company’s fifty day moving average is $8.96 and its two-hundred day moving average is $7.71.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.33) earnings per share. On average, sell-side analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current year.

Hedge Funds Weigh In On Fastly

A number of large investors have recently modified their holdings of FSLY. The Manufacturers Life Insurance Company grew its holdings in Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock worth $503,000 after acquiring an additional 2,128 shares during the period. Blue Trust Inc. grew its stake in shares of Fastly by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after purchasing an additional 2,296 shares during the period. Arizona State Retirement System increased its holdings in shares of Fastly by 10.3% in the 2nd quarter. Arizona State Retirement System now owns 35,690 shares of the company’s stock valued at $263,000 after purchasing an additional 3,338 shares in the last quarter. FMR LLC lifted its stake in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Fastly by 95.3% during the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after buying an additional 4,318 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several research reports. Piper Sandler raised their price objective on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Robert W. Baird raised their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price objective on Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Monday, December 2nd. Finally, Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.85.

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.