Artur Bergman Sells 852 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 852 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $17.50, for a total value of $14,910.00. Following the transaction, the chief technology officer owned 2,053,829 shares in the company, valued at approximately $35,942,007.50. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Thursday, May 28th, Artur Bergman sold 1,077 shares of Fastly stock. The shares were sold at an average price of $17.02, for a total value of $18,330.54.
• 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 value of $522,625.68.
• On Monday, May 18th, Artur Bergman sold 32,181 shares of Fastly stock. The shares were sold at an average price of $16.85, for a total value of $542,249.85.
• On Tuesday, March 10th, Artur Bergman sold 265,000 shares of Fastly stock. The stock was sold at an average price of $22.79, for a total value of $6,039,350.00.
• On Monday, March 9th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $21.07, for a total value of $842,800.00.
• On Monday, March 2nd, Artur Bergman sold 275,234 shares of Fastly stock. The stock was sold at an average price of $20.56, for a total value of $5,658,811.04.
• On Thursday, March 5th, Artur Bergman sold 31,079 shares of Fastly stock. The stock was sold at an average price of $20.69, for a total value of $643,024.51.
• On Wednesday, March 4th, Artur Bergman sold 24,532 shares of Fastly stock. The stock was sold at an average price of $21.06, for a total value of $516,643.92.

Fastly Price Performance

Shares of NYSE:FSLY traded up $0.82 on Friday, hitting $17.76. The stock had a trading volume of 6,297,081 shares, compared to its average volume of 11,685,857. Fastly, Inc. has a twelve month low of $6.29 and a twelve month high of $34.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The firm’s 50 day moving average price is $24.32 and its 200-day moving average price is $16.86. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -18.50 and a beta of 0.49.

Institutional Trading of Fastly

A number of hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in Fastly by 39.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock worth $64,000 after purchasing an additional 627 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after acquiring an additional 633 shares during the period. Kestra Advisory Services LLC increased its holdings in shares of Fastly by 8.4% in the 4th quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock valued at $122,000 after acquiring an additional 930 shares during the period. Arizona State Retirement System increased its holdings in shares of Fastly by 3.2% in the 3rd quarter. Arizona State Retirement System now owns 40,705 shares of the company’s stock valued at $348,000 after acquiring an additional 1,253 shares during the period. Finally, Parallax Volatility Advisers L.P. increased its holdings in shares of Fastly by 13.8% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock valued at $103,000 after acquiring an additional 1,465 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FSLY has been the subject of several recent analyst reports. William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Royal Bank Of Canada decreased their price target on Fastly to $18.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. Citigroup raised their price target on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research report on Friday, May 8th. Finally, KeyCorp boosted their price objective on Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.