Fastly, Inc. (NYSE:FSLY) CTO Sells $101,200.00 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $10.12, for a total value of $101,200.00. Following the transaction, the chief technology officer now directly owns 3,384,136 shares in the company, valued at approximately $34,247,456.32. This represents a 0.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 value 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 value 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 value 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 value 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 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 stock was sold at an average price of $8.07, for a total value of $396,866.46.

Fastly Trading Up 7.7 %

Shares of NYSE:FSLY opened at $10.89 on Wednesday. The business’s 50-day moving average is $9.50 and its 200 day moving average is $7.90. Fastly, Inc. has a 1 year low of $5.52 and a 1 year high of $25.87. The firm has a market capitalization of $1.53 billion, a P/E ratio of -9.99 and a beta of 1.24. 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 announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. During the same period in the prior year, the company posted ($0.33) EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Raymond James cut Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Robert W. Baird upped their target price on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler upped their price objective on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Monday, December 2nd. Finally, DA Davidson upped their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and an average price target of $8.85.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in shares of Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Fastly by 84.2% in the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock valued at $848,000 after purchasing an additional 51,224 shares during the period. Penserra Capital Management LLC increased its holdings 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. XTX Topco Ltd acquired a new position in shares of Fastly in the third quarter valued at about $400,000. Finally, Zacks Investment Management acquired a new position in shares of Fastly in the third quarter valued at about $914,000. 79.71% of the stock is owned by institutional investors and hedge funds.

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.