Fastly (NYSE:FSLY) CTO Sells $165,353.44 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 7,889 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $20.96, for a total value of $165,353.44. Following the completion of the transaction, the chief technology officer directly owned 2,038,638 shares of the company’s stock, valued at approximately $42,729,852.48. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 29th, Artur Bergman sold 6,225 shares of Fastly stock. The shares were sold at an average price of $16.96, for a total value of $105,576.00.
• 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 Wednesday, May 27th, Artur Bergman sold 852 shares of Fastly stock. The shares were sold at an average price of $17.50, for a total value of $14,910.00.
• 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 shares were 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 shares were sold at an average price of $21.07, for a total value of $842,800.00.

Fastly Price Performance

Fastly stock opened at $18.07 on Monday. Fastly, Inc. has a 12 month low of $6.29 and a 12 month high of $34.82. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $23.34 and its 200 day simple moving average is $17.19. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -18.82 and a beta of 0.37.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research note on Friday, May 8th. Citigroup upped their price objective on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. KeyCorp upped their price objective on Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Piper Sandler dropped their price objective on Fastly to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada dropped their target price on Fastly to $18.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fastly currently has a consensus rating of “Hold” and an average price target of $22.63.

Institutional Investors Weigh In On Fastly

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Fastly by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after acquiring an additional 310,234 shares in the last quarter. Morgan Stanley lifted its position in shares of Fastly by 14.7% during the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after acquiring an additional 1,071,222 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Fastly by 100.5% during the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock worth $204,349,000 after acquiring an additional 3,524,763 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Fastly by 2,795.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after acquiring an additional 4,623,767 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Fastly by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 4,137,808 shares of the company’s stock worth $35,380,000 after acquiring an additional 117,213 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.