Artur Bergman Sells 29,641 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 29,641 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $10.02, for a total transaction of $297,002.82. Following the sale, the chief technology officer now directly owns 6,058,595 shares in the company, valued at $60,707,121.90. This trade represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

Fastly Trading Down 9.2 %

Shares of Fastly stock opened at $10.30 on Wednesday. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. 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 firm has a 50-day simple moving average of $7.72 and a two-hundred day simple moving average of $7.32. The company has a market cap of $1.45 billion, a P/E ratio of -9.45 and a beta of 1.27.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The firm had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts predict that Fastly, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. DA Davidson upped their price target on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird upped their price target on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler upped their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upped their price target on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lowered their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Fastly has an average rating of “Hold” and an average price target of $8.55.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FSLY. Price T Rowe Associates Inc. MD raised its position in shares of Fastly by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,371 shares of the company’s stock worth $1,069,000 after purchasing an additional 4,498 shares during the last quarter. CWM LLC raised its holdings in Fastly by 10.5% in the 2nd quarter. CWM LLC now owns 22,266 shares of the company’s stock valued at $164,000 after acquiring an additional 2,121 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in Fastly in the 2nd quarter valued at about $135,000. SG Americas Securities LLC raised its holdings in Fastly by 88.1% in the 2nd quarter. SG Americas Securities LLC now owns 124,693 shares of the company’s stock valued at $919,000 after acquiring an additional 58,389 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in Fastly by 347.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 48,771 shares of the company’s stock valued at $365,000 after acquiring an additional 37,878 shares during the last quarter. Institutional investors and hedge funds 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.