Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 8,049 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 8,049 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.04, for a total value of $80,811.96. Following the completion of the transaction, the chief technology officer now owns 3,426,087 shares in the company, valued at approximately $34,397,913.48. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 transaction 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 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 transaction 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 shares were sold at an average price of $8.07, for a total value of $396,866.46.

Fastly Stock Performance

Fastly stock traded down $0.27 during mid-day trading on Wednesday, reaching $9.45. The company’s stock had a trading volume of 2,749,173 shares, compared to its average volume of 2,437,311. The firm’s fifty day moving average price is $8.88 and its two-hundred day moving average price is $7.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87. The company has a market capitalization of $1.33 billion, a P/E ratio of -8.67 and a beta of 1.27.

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 analysts’ consensus estimates 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 previous year, the company posted ($0.33) EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Fastly

Several hedge funds have recently bought and sold shares of FSLY. Commonwealth Equity Services LLC grew its position in Fastly by 59.4% in the second quarter. Commonwealth Equity Services LLC now owns 48,987 shares of the company’s stock worth $361,000 after acquiring an additional 18,258 shares in the last quarter. Rhumbline Advisers increased its position in shares of Fastly by 8.5% during the 2nd quarter. Rhumbline Advisers now owns 189,832 shares of the company’s stock valued at $1,399,000 after purchasing an additional 14,813 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Fastly by 10.3% during the 2nd quarter. Arizona State Retirement System now owns 35,690 shares of the company’s stock valued at $263,000 after buying an additional 3,338 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Fastly by 95.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after buying an additional 4,318 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Fastly in the second quarter worth approximately $586,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FSLY shares. Robert W. Baird raised their price target on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler boosted their target price on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price target on Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Craig Hallum raised their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, DA Davidson boosted their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.85.

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.