Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 16,922 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 16,922 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $105,762.50. Following the completion of the sale, the chief technology officer now owns 6,138,900 shares in the company, valued at $38,368,125. This represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Stock Down 3.4 %

FSLY traded down $0.23 on Wednesday, hitting $6.48. 1,684,972 shares of the company were exchanged, compared to its average volume of 3,527,680. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87. The firm has a 50-day moving average price of $7.23 and a two-hundred day moving average price of $7.30. The company has a market cap of $909.14 million, a price-to-earnings ratio of -5.94 and a beta of 1.24. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last released its quarterly earnings data 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. The company had revenue of $137.21 million during 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%. Fastly’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. On average, equities analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FSLY. Craig Hallum boosted 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. DA Davidson boosted their target price on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Piper Sandler raised their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.94.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co raised its holdings in Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after purchasing an additional 466,560 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after buying an additional 657,334 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in Fastly in the 2nd quarter valued at about $586,000. SG Americas Securities LLC increased its holdings in Fastly by 77.5% during the 3rd quarter. SG Americas Securities LLC now owns 221,357 shares of the company’s stock valued at $1,676,000 after acquiring an additional 96,664 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Fastly by 1,197.4% during the second quarter. Marshall Wace LLP now owns 151,172 shares of the company’s stock worth $1,114,000 after acquiring an additional 139,520 shares during 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.