Fastly, Inc. (NYSE:FSLY) CTO Sells $103,502.64 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 16,748 shares of Fastly stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64. Following the completion of the sale, the chief technology officer now owns 6,225,980 shares of the company’s stock, valued at approximately $38,476,556.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, August 19th, Artur Bergman sold 1,091 shares of Fastly stock. The stock was sold at an average price of $6.46, for a total transaction of $7,047.86.

Fastly Price Performance

Shares of NYSE FSLY opened at $6.23 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83. The firm has a market capitalization of $851.25 million, a PE ratio of -6.23 and a beta of 1.13. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The business’s fifty day moving average price is $7.19 and its two-hundred day moving average price is $10.67.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The firm had revenue of $132.37 million for the quarter, compared to the consensus estimate of $131.62 million. During the same period last year, the firm posted ($0.32) EPS. Fastly’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Fastly, Inc. will post -1.08 EPS for the current year.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock valued at $176,152,000 after acquiring an additional 657,334 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Fastly by 21.8% during the fourth quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock valued at $99,443,000 after purchasing an additional 998,749 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Fastly by 9.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after purchasing an additional 162,659 shares during the period. Jennison Associates LLC bought a new position in Fastly in the 1st quarter valued at about $13,724,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Fastly by 94.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after buying an additional 466,560 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLY has been the topic of several research analyst reports. Citigroup reduced their price target on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Raymond James decreased their target price on Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 8th. Bank of America lowered Fastly from a “buy” rating to an “underperform” rating and dropped their price target for the company from $18.00 to $8.00 in a research report on Thursday, May 2nd. DA Davidson downgraded shares of Fastly from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd. Finally, Piper Sandler cut shares of Fastly from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $6.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.93.

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.