Artur Bergman Sells 20,000 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 20,000 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $8.34, for a total transaction of $166,800.00. Following the completion of the transaction, the chief technology officer owned 3,361,276 shares in the company, valued at $28,033,041.84. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, October 20th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.23, for a total transaction of $164,600.00.
• On Monday, October 13th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.22, for a total value of $164,400.00.
• On Monday, October 6th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.76, for a total value of $175,200.00.
• On Monday, September 29th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.53, for a total value of $170,600.00.
• On Monday, September 22nd, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.70, for a total value of $174,000.00.
• On Monday, September 15th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.56, for a total value of $171,200.00.
• On Monday, September 8th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $7.45, for a total value of $149,000.00.
• On Tuesday, September 2nd, Artur Bergman sold 58,138 shares of Fastly stock. The stock was sold at an average price of $7.41, for a total transaction of $430,802.58.
• On Wednesday, August 27th, Artur Bergman sold 849 shares of Fastly stock. The shares were sold at an average price of $7.30, for a total transaction of $6,197.70.
• On Tuesday, August 19th, Artur Bergman sold 19,353 shares of Fastly stock. The stock was sold at an average price of $7.33, for a total transaction of $141,857.49.

Fastly Stock Performance

Shares of NYSE FSLY opened at $7.96 on Friday. The stock has a market cap of $1.17 billion, a PE ratio of -7.72 and a beta of 1.30. Fastly, Inc. has a 1 year low of $4.65 and a 1 year high of $12.08. The firm has a fifty day moving average price of $8.12 and a 200-day moving average price of $7.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The company had revenue of $148.71 million during the quarter, compared to the consensus estimate of $144.86 million. Fastly’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. Equities analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FSLY. Royal Bank Of Canada increased their target price on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Craig Hallum raised shares of Fastly from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fastly in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Fastly by 45.5% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 116,617 shares of the company’s stock worth $997,000 after purchasing an additional 36,455 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Fastly by 34.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,816 shares of the company’s stock valued at $130,000 after purchasing an additional 4,059 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Fastly in the 3rd quarter worth $57,000. SG Americas Securities LLC grew its stake in shares of Fastly by 65.0% in the 3rd quarter. SG Americas Securities LLC now owns 180,834 shares of the company’s stock worth $1,546,000 after buying an additional 71,268 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Fastly in the 3rd quarter worth about $43,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

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.