Artur Bergman Sells 16,922 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 16,922 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $105,762.50. Following the completion of the transaction, the chief technology officer now directly owns 6,138,900 shares in the company, valued at approximately $38,368,125. This represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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.
• On Tuesday, September 3rd, Artur Bergman sold 19,889 shares of Fastly stock. The shares were sold at an average price of $5.96, for a total transaction of $118,538.44.

Fastly Price Performance

Shares of Fastly stock traded down $0.23 during midday trading on Wednesday, reaching $6.48. The company had a trading volume of 1,684,972 shares, compared to its average volume of 3,527,680. The stock has a fifty day simple moving average of $7.23 and a 200 day simple moving average of $7.30. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $909.14 million, a price-to-earnings ratio of -5.94 and a beta of 1.24.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million during 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%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.33) earnings per share. As a group, equities research analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on FSLY. Robert W. Baird increased their target price on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum lifted their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. DA Davidson raised their target price on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Raymond James cut shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler upped their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Trust Co. bought a new position in shares of Fastly during the 1st quarter valued at about $39,000. Cape Investment Advisory Inc. lifted its position in Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after acquiring an additional 4,150 shares in the last quarter. Point72 DIFC Ltd bought a new position in Fastly during the 2nd quarter worth about $38,000. EntryPoint Capital LLC raised its stake in shares of Fastly by 41.1% in the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock valued at $73,000 after purchasing an additional 1,643 shares during the period. Finally, FMR LLC lifted its holdings 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 in the last quarter. 79.71% of the stock is currently owned by institutional investors.

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.