Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells 8,049 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 8,049 shares of Fastly stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.04, for a total value of $80,811.96. Following the transaction, the chief technology officer now owns 3,426,087 shares of the company’s stock, valued at $34,397,913.48. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 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 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 stock was 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 shares were sold at an average price of $6.25, for a total transaction of $105,762.50.
• 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.

Fastly Trading Down 2.8 %

NYSE:FSLY traded down $0.27 during mid-day trading on Wednesday, hitting $9.45. 2,749,173 shares of the company’s stock were exchanged, compared to its average volume of 2,437,311. 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, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The company has a 50 day simple moving average of $8.88 and a 200-day simple moving average of $7.68. The firm 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 posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Fastly’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.33) earnings per share. As a group, research analysts expect that Fastly, Inc. will post -0.86 earnings per share for the current year.

Institutional Trading of Fastly

Several institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in Fastly in the second quarter worth approximately $38,000. FMR LLC increased its stake in shares of Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Fastly by 95.3% during the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after acquiring an additional 4,318 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Fastly in the third quarter worth $89,000. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Fastly in the second quarter valued at $114,000. 79.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research 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 report on Thursday, November 7th. Piper Sandler increased their price objective on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Craig Hallum increased their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada raised their target price on Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. One equities research 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. Based on data from MarketBeat, Fastly 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.