Fastly (NYSE:FSLY) CTO Artur Bergman Sells 1,077 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 1,077 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $17.02, for a total transaction of $18,330.54. Following the sale, the chief technology officer owned 2,052,752 shares in the company, valued at $34,937,839.04. This represents a 0.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 27th, Artur Bergman sold 852 shares of Fastly stock. The shares were sold at an average price of $17.50, for a total transaction of $14,910.00.
• On Tuesday, May 19th, Artur Bergman sold 31,848 shares of Fastly stock. The stock was sold at an average price of $16.41, for a total transaction of $522,625.68.
• On Monday, May 18th, Artur Bergman sold 32,181 shares of Fastly stock. The stock was sold at an average price of $16.85, for a total transaction of $542,249.85.
• On Tuesday, March 10th, Artur Bergman sold 265,000 shares of Fastly stock. The stock was sold at an average price of $22.79, for a total transaction of $6,039,350.00.
• On Monday, March 9th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $21.07, for a total transaction of $842,800.00.
• On Monday, March 2nd, Artur Bergman sold 275,234 shares of Fastly stock. The stock was sold at an average price of $20.56, for a total transaction of $5,658,811.04.
• On Thursday, March 5th, Artur Bergman sold 31,079 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total transaction of $643,024.51.
• On Wednesday, March 4th, Artur Bergman sold 24,532 shares of Fastly stock. The shares were sold at an average price of $21.06, for a total transaction of $516,643.92.

Fastly Stock Up 4.8%

Shares of NYSE FSLY traded up $0.82 during midday trading on Friday, reaching $17.76. 6,297,081 shares of the company’s stock traded hands, compared to its average volume of 11,685,857. Fastly, Inc. has a one year low of $6.29 and a one year high of $34.82. The stock’s 50 day simple moving average is $24.32 and its 200-day simple moving average is $16.86. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -18.50 and a beta of 0.49.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. KeyCorp raised their target price on shares of Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. DA Davidson set a $13.00 target price on shares of Fastly in a report on Thursday, February 12th. Finally, Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a report on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.63.

Hedge Funds Weigh In On Fastly

A number of large investors have recently bought and sold shares of FSLY. PNC Financial Services Group Inc. raised its position in Fastly by 84.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after buying an additional 633 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Fastly during the 4th quarter worth $41,000. Align Financial LLC purchased a new position in Fastly during the 4th quarter worth $41,000. Sound Income Strategies LLC purchased a new position in Fastly during the 1st quarter worth $44,000. Finally, Quarry LP purchased a new position in Fastly during the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.