Fastly (NYSE:FSLY) CTO Artur Bergman Sells 20,000 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 20,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $8.70, for a total value of $174,000.00. Following the completion of the sale, the chief technology officer directly owned 3,461,276 shares of the company’s stock, valued at $30,113,101.20. The trade was a 0.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, September 15th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.56, for a total value of $171,200.00.
• On Monday, September 8th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $7.45, for a total value of $149,000.00.
• On Tuesday, September 2nd, Artur Bergman sold 58,138 shares of Fastly stock. The shares were sold at an average price of $7.41, for a total value of $430,802.58.
• On Wednesday, August 27th, Artur Bergman sold 849 shares of Fastly stock. The stock was sold at an average price of $7.30, for a total value of $6,197.70.
• On Tuesday, August 19th, Artur Bergman sold 19,353 shares of Fastly stock. The stock was sold at an average price of $7.33, for a total value of $141,857.49.
• On Monday, August 18th, Artur Bergman sold 26,418 shares of Fastly stock. The stock was sold at an average price of $6.88, for a total value of $181,755.84.

Fastly Stock Down 1.0%

Shares of FSLY opened at $8.48 on Thursday. The company has a current ratio of 1.49, a quick 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’s 50 day moving average is $7.42 and its two-hundred day moving average is $6.97. The firm has a market cap of $1.25 billion, a P/E ratio of -8.23 and a beta of 1.24.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $144.86 million. During the same quarter last year, the business posted ($0.07) earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fastly

A number of hedge funds have recently bought and sold shares of FSLY. Caxton Associates LLP acquired a new position in Fastly in the first quarter valued at approximately $800,000. Hsbc Holdings PLC grew its position in Fastly by 6.1% in the first quarter. Hsbc Holdings PLC now owns 27,938 shares of the company’s stock worth $175,000 after buying an additional 1,612 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Fastly in the first quarter worth approximately $91,000. Allianz Asset Management GmbH acquired a new stake in shares of Fastly in the 1st quarter valued at $111,000. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Fastly by 423.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,628 shares of the company’s stock valued at $523,000 after purchasing an additional 66,828 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FSLY shares. Craig Hallum upgraded Fastly from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, August 7th. KeyCorp raised Fastly to a “sector weight” rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada boosted their target price on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.69.

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.