Fastly (NYSE:FSLY) CTO Artur Bergman Sells 40,000 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 40,000 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $17.08, for a total transaction of $683,200.00. Following the completion of the sale, the chief technology officer directly owned 2,185,135 shares of the company’s stock, valued at approximately $37,322,105.80. This trade represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, February 19th, Artur Bergman sold 34,576 shares of Fastly stock. The stock was sold at an average price of $20.10, for a total transaction of $694,977.60.
• On Thursday, February 19th, Artur Bergman sold 39,881 shares of Fastly stock. The shares were sold at an average price of $18.89, for a total value of $753,352.09.
• On Wednesday, February 18th, Artur Bergman sold 18,338 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total transaction of $321,465.14.
• On Tuesday, February 17th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total value of $701,200.00.
• On Friday, February 13th, Artur Bergman sold 200,847 shares of Fastly stock. The stock was sold at an average price of $18.42, for a total value of $3,699,601.74.
• On Friday, February 13th, Artur Bergman sold 20,128 shares of Fastly stock. The shares were sold at an average price of $18.25, for a total transaction of $367,336.00.
• On Monday, February 9th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.84, for a total transaction of $176,800.00.
• On Monday, February 2nd, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $9.36, for a total value of $187,200.00.
• On Tuesday, January 27th, Artur Bergman sold 49,320 shares of Fastly stock. The shares were sold at an average price of $10.40, for a total transaction of $512,928.00.
• On Monday, January 26th, Artur Bergman sold 30,680 shares of Fastly stock. The stock was sold at an average price of $9.92, for a total transaction of $304,345.60.

Fastly Trading Up 1.9%

Shares of FSLY stock traded up $0.35 on Thursday, reaching $18.50. 3,770,710 shares of the company’s stock were exchanged, compared to its average volume of 10,778,194. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $11.24 and its 200 day simple moving average is $9.78. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $20.27. The stock has a market capitalization of $2.76 billion, a PE ratio of -19.28 and a beta of 1.03.

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently bought and sold shares of FSLY. Align Financial LLC purchased a new position in shares of Fastly during the 4th quarter valued at approximately $41,000. Byrne Asset Management LLC purchased a new position in Fastly in the third quarter valued at $43,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Fastly in the fourth quarter worth about $54,000. Quarry LP purchased a new stake in shares of Fastly during the 3rd quarter worth about $49,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Fastly during the 3rd quarter valued at about $56,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FSLY has been the topic of several recent research reports. Oppenheimer initiated coverage on shares of Fastly in a report on Monday, November 17th. They set a “market perform” rating on the stock. Piper Sandler reiterated a “neutral” rating and issued a $14.00 target price (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Royal Bank Of Canada boosted their price objective on shares of Fastly from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 12th. Citigroup upped their price target on Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, William Blair raised Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Fastly presently has an average rating of “Hold” and a consensus price target of $12.00.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.