Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells 10,000 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 10,000 shares of the business’s stock in a transaction that occurred on 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 owns 3,434,136 shares of the company’s stock, valued at $34,650,432.24. This trade represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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 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 value of $297,002.82.
• On Monday, December 2nd, Artur Bergman sold 29,858 shares of Fastly stock. The stock was 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 shares were 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 stock was sold at an average price of $8.07, for a total transaction of $396,866.46.

Fastly Stock Performance

NYSE FSLY opened at $9.60 on Friday. The stock has a market capitalization of $1.35 billion, a PE ratio of -8.81 and a beta of 1.27. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The business has a 50 day simple moving average of $8.56 and a two-hundred day simple moving average of $7.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating 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 last year, the firm posted ($0.33) earnings per share. Fastly’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts predict that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Trading of Fastly

Several hedge funds have recently made changes to their positions in FSLY. Bank of Montreal Can increased its stake 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 worth $9,867,000 after acquiring an additional 1,293,490 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Fastly by 18.8% during the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after buying an additional 801,968 shares during the period. Point72 Asset Management L.P. lifted its position in Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after buying an additional 621,680 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Fastly during the second quarter worth $1,233,000. Finally, Charles Schwab Investment Management Inc. increased its position in Fastly by 18.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock valued at $8,006,000 after acquiring an additional 161,070 shares during the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FSLY has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research report on Monday, December 2nd. 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 report on Thursday, November 7th. Finally, Craig Hallum boosted their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Fastly presently has an average rating of “Hold” and a consensus 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.