Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells $100,900.00 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.09, for a total transaction of $100,900.00. Following the sale, the chief technology officer now directly owns 3,434,136 shares in the company, valued at $34,650,432.24. The trade was a 0.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

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

Fastly Price Performance

NYSE FSLY opened at $9.60 on Friday. Fastly, Inc. has a one year low of $5.52 and a one year high of $25.87. The stock has a 50-day moving average of $8.56 and a 200 day moving average of $7.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -8.81 and a beta of 1.27.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping 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 firm had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. During the same period in the previous year, the business posted ($0.33) earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that Fastly, Inc. will post -0.86 EPS for the current year.

Analyst Ratings Changes

FSLY has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Oppenheimer upgraded shares of 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. Piper Sandler upped their price target on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Craig Hallum lifted their price objective on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada increased their target price on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Fastly presently has an average rating of “Hold” and an average price target of $8.55.

Institutional Investors Weigh In On Fastly

Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in shares of Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after buying an additional 1,293,490 shares during the last quarter. Penserra Capital Management LLC boosted its position in Fastly by 18.8% in 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 last quarter. Point72 Asset Management L.P. grew its stake in shares of Fastly by 461.5% during the 2nd 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 period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Fastly during the 2nd quarter valued at about $1,233,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Fastly by 18.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after purchasing an additional 161,070 shares during the period. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

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.