Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells 12,821 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 12,821 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total transaction of $103,080.84. Following the completion of the transaction, the chief technology officer now owns 3,374,012 shares in the company, valued at $27,127,056.48. This represents a 0.38 % decrease in their ownership of the stock. The sale 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, February 10th, Artur Bergman sold 10,000 shares of Fastly stock. The stock was sold at an average price of $10.58, for a total transaction of $105,800.00.
• On Monday, February 3rd, Artur Bergman sold 10,000 shares of Fastly stock. The shares were sold at an average price of $10.21, for a total transaction of $102,100.00.
• On Monday, January 27th, Artur Bergman sold 10,000 shares of Fastly stock. The shares were sold at an average price of $10.12, for a total transaction of $101,200.00.
• On Thursday, January 23rd, Artur Bergman sold 31,551 shares of Fastly stock. The shares were sold at an average price of $10.31, for a total transaction of $325,290.81.
• On Monday, January 6th, Artur Bergman sold 8,049 shares of Fastly stock. The shares were sold at an average price of $10.04, for a total transaction of $80,811.96.
• On Monday, December 23rd, Artur Bergman sold 10,000 shares of Fastly stock. The shares were sold at an average price of $10.09, for a total transaction of $100,900.00.
• 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 transaction of $40,834.00.
• On Thursday, December 5th, Artur Bergman sold 29,641 shares of Fastly stock. The shares were sold at an average price of $10.02, for a total transaction 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 transaction of $300,670.06.

Fastly Stock Performance

Shares of NYSE FSLY traded down $0.54 during midday trading on Friday, reaching $7.28. The company had a trading volume of 4,194,535 shares, compared to its average volume of 3,175,301. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $9.72 and its 200 day simple moving average is $8.12. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $14.90. The stock has a market cap of $1.02 billion, a P/E ratio of -6.38 and a beta of 1.26.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. On average, analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSLY. Alyeska Investment Group L.P. acquired a new stake in Fastly during the fourth quarter valued at $35,334,000. Bank of Montreal Can grew its position in Fastly by 11,140.2% during the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after buying an additional 1,293,490 shares during the period. Marshall Wace LLP acquired a new stake in shares of Fastly in the fourth quarter valued at about $7,618,000. Penserra Capital Management LLC grew its position in shares of Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after purchasing an additional 801,968 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Fastly in the fourth quarter valued at about $7,088,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

FSLY has been the subject of a number of analyst reports. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Monday, December 2nd. Robert W. Baird increased their target price 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. Craig Hallum increased their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Piper Sandler reissued a “neutral” rating and set a $9.00 target price (down previously from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Finally, Citigroup increased their target price on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.55.

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.