Artur Bergman Sells 32,181 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 32,181 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $16.85, for a total transaction of $542,249.85. Following the completion of the transaction, the chief technology officer owned 2,086,529 shares in the company, valued at approximately $35,158,013.65. The trade was a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Artur Bergman sold 31,848 shares of Fastly stock. The shares were sold at an average price of $16.41, for a total transaction of $522,625.68.
• On Tuesday, March 10th, Artur Bergman sold 265,000 shares of Fastly stock. The shares were 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 shares were 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 shares were 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.
• On Friday, February 27th, Artur Bergman sold 869 shares of Fastly stock. The shares were sold at an average price of $17.50, for a total transaction of $15,207.50.
• On Monday, February 23rd, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.08, for a total transaction of $683,200.00.
• On Thursday, February 19th, Artur Bergman sold 34,576 shares of Fastly stock. The shares were 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 transaction of $753,352.09.

Fastly Stock Up 4.6%

FSLY traded up $0.76 during midday trading on Wednesday, hitting $17.12. The company had a trading volume of 6,247,769 shares, compared to its average volume of 12,064,143. Fastly, Inc. has a 52 week low of $6.29 and a 52 week high of $34.82. 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 capitalization of $2.68 billion, a price-to-earnings ratio of -17.83 and a beta of 0.49. The stock’s 50 day moving average price is $25.25 and its 200 day moving average price is $16.48.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently made changes to their positions in the business. Divisadero Street Capital Management LP bought a new stake in Fastly in the 3rd quarter worth about $21,174,000. Vanguard Group Inc. lifted its position in shares of Fastly by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,666,672 shares of the company’s stock worth $142,500,000 after buying an additional 554,909 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Fastly during the 3rd quarter worth approximately $781,000. Knights of Columbus Asset Advisors LLC bought a new position in shares of Fastly during the 3rd quarter worth approximately $1,002,000. Finally, Hussman Strategic Advisors Inc. lifted its position in shares of Fastly by 100.0% during the 3rd quarter. Hussman Strategic Advisors Inc. now owns 210,000 shares of the company’s stock worth $1,796,000 after buying an additional 105,000 shares in the last quarter. 79.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FSLY shares. Royal Bank Of Canada decreased their price target on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. DA Davidson set a $13.00 target price on shares of Fastly in a research report on Thursday, February 12th. Piper Sandler decreased their target price on shares of Fastly to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Evercore assumed coverage on shares of Fastly in a research report on Tuesday, April 14th. They set an “outperform” rating and a $24.00 target price for the company. Finally, Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research report on Tuesday, April 14th. Four investment 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.com, the company currently has a consensus rating of “Hold” and an average target price of $22.63.

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.