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

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value 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 approximately $41,364,073.36. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction 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 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 shares were sold at an average price of $8.07, for a total value of $396,866.46.

Fastly Stock Up 1.0 %

Shares of NYSE:FSLY opened at $10.08 on Friday. The firm has a fifty day moving average price of $8.29 and a two-hundred day moving average price of $7.48. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -9.25 and a beta of 1.27. 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, Inc. has a one year low of $5.52 and a one year high of $25.87.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The company had revenue of $137.21 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.33) earnings per share. Analysts anticipate that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FSLY shares. Piper Sandler boosted their target price on Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada boosted their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Craig Hallum increased their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Fastly has an average rating of “Hold” and an average target price of $8.55.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FSLY. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Fastly by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,130 shares of the company’s stock worth $222,000 after acquiring an additional 3,124 shares in the last quarter. EMC Capital Management boosted its holdings in shares of Fastly by 400.0% in the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after purchasing an additional 6,000 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Fastly during the 2nd quarter valued at about $103,000. Commonwealth Equity Services LLC raised its holdings in shares of Fastly by 59.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 48,987 shares of the company’s stock valued at $361,000 after buying an additional 18,258 shares in the last quarter. Finally, Versor Investments LP bought a new stake in Fastly in the 2nd quarter worth approximately $231,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.