Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells $105,762.50 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 16,922 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $105,762.50. Following the transaction, the chief technology officer now owns 6,138,900 shares of the company’s stock, valued at $38,368,125. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, November 6th, Artur Bergman sold 49,178 shares of Fastly stock. The stock was sold at an average price of $8.07, for a total transaction of $396,866.46.
• On Tuesday, September 3rd, Artur Bergman sold 19,889 shares of Fastly stock. The stock was sold at an average price of $5.96, for a total transaction of $118,538.44.

Fastly Trading Up 3.7 %

NYSE FSLY opened at $7.89 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The company’s 50-day simple moving average is $7.29 and its two-hundred day simple moving average is $7.29. Fastly, Inc. has a one year low of $5.52 and a one year high of $25.87.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.33) EPS. Analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on FSLY. Craig Hallum raised their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Robert W. Baird raised their price target on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. DA Davidson raised their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada raised their price target on shares of 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 and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of Fastly in the 2nd quarter worth approximately $38,000. Cambridge Trust Co. acquired a new stake in Fastly in the 1st quarter worth approximately $39,000. FMR LLC boosted its stake in Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after purchasing an additional 4,150 shares in the last quarter. Finally, EMC Capital Management boosted its stake in Fastly by 400.0% in the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after purchasing an additional 6,000 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 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.