Artur Bergman Sells 8,049 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 8,049 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.04, for a total transaction of $80,811.96. Following the completion of the transaction, the chief technology officer now directly owns 3,426,087 shares in the company, valued at approximately $34,397,913.48. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 value 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 value 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 value 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 transaction of $105,762.50.
• On Wednesday, November 6th, Artur Bergman sold 49,178 shares of Fastly stock. The stock was sold at an average price of $8.07, for a total value of $396,866.46.

Fastly Stock Performance

NYSE FSLY opened at $9.02 on Friday. The firm has a market capitalization of $1.27 billion, a P/E ratio of -8.28 and a beta of 1.24. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $9.00 and its two-hundred day moving average price is $7.72. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87.

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

Wall Street Analyst Weigh In

FSLY has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Oppenheimer upgraded 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. Craig Hallum boosted their price target on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, Robert W. Baird upped their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Fastly presently has an average rating of “Hold” and a consensus price target of $8.85.

Institutional Trading of Fastly

Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its stake in 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 acquiring an additional 1,293,490 shares during the period. Penserra Capital Management LLC boosted its position in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock valued at $5,575,000 after purchasing an additional 621,680 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Fastly in the second quarter valued at about $1,233,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Fastly by 18.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after buying an additional 161,070 shares during the last quarter. 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.