Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 3,400 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 3,400 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00. Following the sale, the chief technology officer now owns 3,444,136 shares of the company’s stock, valued at approximately $41,364,073.36. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Fastly Price Performance

Shares of FSLY stock opened at $10.08 on Friday. The business’s fifty day moving average is $8.29 and its 200 day moving average is $7.48. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -9.25 and a beta of 1.27. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87.

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

Analysts Set New Price Targets

Several brokerages have weighed in on FSLY. Piper Sandler increased their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Craig Hallum upped their price target on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird boosted their target price on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.55.

Hedge Funds Weigh In On Fastly

A number of institutional investors and hedge funds have recently made changes to their positions in FSLY. Bank of Montreal Can lifted its stake in shares of Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after buying an additional 1,293,490 shares in the last quarter. Quadrature Capital Ltd raised its holdings in Fastly by 84.2% in the 3rd quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after acquiring an additional 51,224 shares during the last quarter. Penserra Capital Management LLC boosted 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 valued at $38,418,000 after purchasing an additional 801,968 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Fastly in the 3rd quarter worth $400,000. Finally, Zacks Investment Management purchased a new position in shares of Fastly in the third quarter worth $914,000. Institutional investors own 79.71% of the company’s stock.

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.