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 dated Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total transaction of $103,080.84. Following the completion of the sale, the chief technology officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $10.58, for a total transaction of $105,800.00.
• On Monday, February 3rd, Artur Bergman sold 10,000 shares of Fastly stock. The stock was sold at an average price of $10.21, for a total transaction of $102,100.00.
• On Monday, January 27th, Artur Bergman sold 10,000 shares of Fastly stock. The stock was sold at an average price of $10.12, for a total transaction of $101,200.00.
• On Thursday, January 23rd, Artur Bergman sold 31,551 shares of Fastly stock. The stock was sold at an average price of $10.31, for a total transaction of $325,290.81.
• On Monday, January 6th, Artur Bergman sold 8,049 shares of Fastly stock. The stock was sold at an average price of $10.04, for a total transaction of $80,811.96.
• On Monday, December 23rd, Artur Bergman sold 10,000 shares of Fastly stock. The stock was 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 stock was 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.

Fastly Trading Down 6.9 %

Shares of NYSE FSLY traded down $0.54 during trading on Friday, reaching $7.28. The stock had a trading volume of 4,194,535 shares, compared to its average volume of 3,175,301. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week 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 business’s 50-day moving average price is $9.72 and its 200-day moving average price is $8.12. The company has a market cap of $1.02 billion, a P/E ratio of -6.38 and a beta of 1.26.

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

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently modified their holdings of the company. Bank of Montreal Can grew its stake in Fastly by 11,140.2% during the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after purchasing an additional 1,293,490 shares in the last quarter. Quadrature Capital Ltd grew its stake in Fastly by 84.2% during the 3rd quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after purchasing an additional 51,224 shares in the last quarter. Penserra Capital Management LLC grew its stake in Fastly by 18.8% during the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares in the last quarter. XTX Topco Ltd acquired a new position in Fastly during the 3rd quarter worth $400,000. Finally, Zacks Investment Management acquired a new position in Fastly during the 3rd quarter worth $914,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of analyst reports. Royal Bank of Canada reduced their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird lifted their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Citigroup lifted their target price on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, DA Davidson lifted their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.55.

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.