Fastly (NYSE:FSLY) CTO Sells $141,857.49 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 19,353 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $7.33, for a total value of $141,857.49. Following the completion of the sale, the chief technology officer owned 3,580,263 shares of the company’s stock, valued at $26,243,327.79. The trade was a 0.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, August 18th, Artur Bergman sold 26,418 shares of Fastly stock. The shares were sold at an average price of $6.88, for a total value of $181,755.84.
• On Wednesday, June 4th, Artur Bergman sold 1,372 shares of Fastly stock. The shares were sold at an average price of $7.73, for a total value of $10,605.56.
• On Wednesday, May 28th, Artur Bergman sold 558 shares of Fastly stock. The shares were sold at an average price of $7.42, for a total value of $4,140.36.

Fastly Price Performance

FSLY opened at $7.4950 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08. The stock has a fifty day moving average of $6.97 and a 200-day moving average of $6.98. The firm has a market capitalization of $1.10 billion, a P/E ratio of -7.28 and a beta of 1.19.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Fastly had a negative return on equity of 11.98% and a negative net margin of 25.85%.The business had revenue of $148.71 million during the quarter, compared to analyst estimates of $144.86 million. During the same period last year, the company earned ($0.07) earnings per share. Fastly’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities analysts forecast that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Cim Investment Management Inc. raised its stake in shares of Fastly by 100.7% in the second quarter. Cim Investment Management Inc. now owns 38,304 shares of the company’s stock valued at $270,000 after acquiring an additional 19,223 shares during the last quarter. State of Wyoming bought a new position in shares of Fastly in the second quarter valued at approximately $373,000. Caxton Associates LLP raised its stake in shares of Fastly by 65.8% in the second quarter. Caxton Associates LLP now owns 209,633 shares of the company’s stock valued at $1,480,000 after acquiring an additional 83,198 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Fastly by 64.4% in the second quarter. Tower Research Capital LLC TRC now owns 14,475 shares of the company’s stock valued at $102,000 after acquiring an additional 5,670 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Fastly in the second quarter valued at approximately $265,000. Institutional investors own 79.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FSLY. Morgan Stanley increased their price objective on Fastly from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. KeyCorp raised Fastly to a “sector weight” rating in a research report on Thursday, June 5th. Piper Sandler raised their price target on Fastly from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Craig Hallum raised Fastly from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.69.

Fastly Company Profile

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.