Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells $105,800.00 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 10,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $10.58, for a total value of $105,800.00. Following the completion of the sale, the chief technology officer now directly owns 3,364,136 shares of the company’s stock, valued at $35,592,558.88. This trade represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 3rd, Artur Bergman sold 10,000 shares of Fastly stock. The stock was 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 stock was 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 stock was 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 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.
• 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 transaction of $105,762.50.

Fastly Price Performance

Fastly stock opened at $8.09 on Friday. 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 company has a fifty day simple moving average of $9.99 and a 200-day simple moving average of $8.11. The stock has a market cap of $1.13 billion, a P/E ratio of -7.42 and a beta of 1.26. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $18.42.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Equities analysts expect that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup raised their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a research report on Thursday. Royal Bank of Canada reduced their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, December 2nd. Finally, Robert W. Baird increased their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One investment 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, the stock currently has a consensus rating of “Hold” and an average target price of $8.55.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLY. 180 Wealth Advisors LLC grew its position in shares of Fastly by 2.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after buying an additional 1,695 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock worth $503,000 after purchasing an additional 2,128 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Fastly by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after purchasing an additional 2,296 shares during the last quarter. AlphaQuest LLC boosted its position in shares of Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after purchasing an additional 2,960 shares during the period. Finally, Rhumbline Advisers grew its stake in Fastly by 1.6% during the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock worth $1,814,000 after buying an additional 3,081 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.