Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 10,000 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $10.21, for a total value of $102,100.00. Following the completion of the transaction, the chief technology officer now owns 3,374,136 shares of the company’s stock, valued at approximately $34,449,928.56. This represents a 0.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, January 27th, Artur Bergman sold 10,000 shares of Fastly stock. The shares were sold at an average price of $10.12, for a total value of $101,200.00.
• On Thursday, January 23rd, Artur Bergman sold 31,551 shares of Fastly stock. The shares were sold at an average price of $10.31, for a total value of $325,290.81.
• On Monday, January 6th, Artur Bergman sold 8,049 shares of Fastly stock. The shares were sold at an average price of $10.04, for a total value of $80,811.96.
• On Monday, December 23rd, Artur Bergman sold 10,000 shares of Fastly stock. The stock was sold at an average price of $10.09, for a total transaction of $100,900.00.
• On Wednesday, December 18th, Artur Bergman sold 3,400 shares of Fastly stock. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00.
• On Thursday, December 5th, Artur Bergman sold 29,641 shares of Fastly stock. The stock was sold at an average price of $10.02, for a total transaction of $297,002.82.
• On Monday, December 2nd, Artur Bergman sold 29,858 shares of Fastly stock. The shares were sold at an average price of $10.07, for a total transaction of $300,670.06.
• On Monday, November 18th, Artur Bergman sold 16,922 shares of Fastly stock. The stock was sold at an average price of $6.25, for a total value of $105,762.50.

Fastly Stock Performance

NYSE:FSLY opened at $9.99 on Friday. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87. The company has a fifty day simple moving average of $9.92 and a two-hundred day simple moving average of $8.04. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -9.17 and a beta of 1.26.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Fastly’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.33) EPS. As a group, equities analysts anticipate that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on FSLY. Citigroup boosted their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Monday, December 2nd. Robert W. Baird raised their price target on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Craig Hallum increased their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and an average target price of $8.85.

Hedge Funds Weigh In On Fastly

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC raised its holdings in Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after acquiring an additional 801,968 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Fastly by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock valued at $22,831,000 after purchasing an additional 46,951 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fastly by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,074,175 shares of the company’s stock worth $10,140,000 after purchasing an additional 16,533 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Fastly during the fourth quarter worth $3,717,000. 79.71% of the stock is owned by institutional investors and hedge funds.

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.