Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells 12,821 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 12,821 shares of Fastly stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total value of $103,080.84. Following the sale, the chief technology officer now directly owns 3,374,012 shares in the company, valued at approximately $27,127,056.48. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, February 10th, Artur Bergman sold 10,000 shares of Fastly stock. The shares were sold at an average price of $10.58, for a total value of $105,800.00.
• On Monday, February 3rd, Artur Bergman sold 10,000 shares of Fastly stock. The shares were sold at an average price of $10.21, for a total value 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 value 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 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 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 shares were sold at an average price of $10.07, for a total transaction of $300,670.06.

Fastly Trading Down 6.9 %

NYSE FSLY opened at $7.28 on Friday. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $14.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -6.38 and a beta of 1.26. The firm’s 50 day moving average price is $9.65 and its two-hundred day moving average price is $8.13.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Equities analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum raised their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. DA Davidson lifted their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.55.

Hedge Funds Weigh In On Fastly

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. AlphaQuest LLC grew its position in Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares in the last quarter. FMR LLC boosted its stake in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after buying an additional 3,221 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of Fastly during the 4th quarter valued at $72,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Fastly during the 4th quarter valued at $82,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

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.