Artur Bergman Sells 49,178 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 49,178 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the sale, the chief technology officer now directly owns 6,155,822 shares of the company’s stock, valued at $49,677,483.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, September 3rd, Artur Bergman sold 19,889 shares of Fastly stock. The shares were sold at an average price of $5.96, for a total transaction of $118,538.44.
• On Monday, August 19th, Artur Bergman sold 1,091 shares of Fastly stock. The shares were sold at an average price of $6.46, for a total transaction of $7,047.86.
• On Friday, August 16th, Artur Bergman sold 16,748 shares of Fastly stock. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64.

Fastly Stock Down 6.1 %

Shares of NYSE FSLY opened at $7.67 on Friday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -7.04 and a beta of 1.24. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87. The firm has a 50-day moving average price of $7.09 and a 200 day moving average price of $7.61. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $132.37 million during the quarter, compared to the consensus estimate of $131.62 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned ($0.32) EPS. Equities research analysts anticipate that Fastly, Inc. will post -0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Fastly

Hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in Fastly in the second quarter valued at $38,000. Cambridge Trust Co. purchased a new position in Fastly during the 1st quarter valued at about $39,000. Cape Investment Advisory Inc. raised its position in Fastly by 27,666.7% during the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after acquiring an additional 4,150 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Fastly by 95.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after purchasing an additional 4,318 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on FSLY shares. Robert W. Baird upped their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley cut their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 27th. Piper Sandler lifted their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday. DA Davidson upped their price objective on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.94.

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.