Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells $103,080.84 in 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 stock was sold at an average price of $8.04, for a total transaction of $103,080.84. Following the transaction, the chief technology officer now owns 3,374,012 shares in the company, valued at approximately $27,127,056.48. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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 shares were 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 shares were 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 shares were 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 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 Stock Down 6.9 %

Fastly stock opened at $7.28 on Monday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -6.38 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $14.90. The firm has a fifty day moving average price of $9.65 and a two-hundred day moving average price of $8.14.

Fastly (NYSE:FSLY) last released its earnings results 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 return on equity of 12.75% and a negative net margin of 29.07%. As a group, analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on FSLY. Robert W. Baird boosted 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. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, December 2nd. Craig Hallum upped their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and issued a $9.00 price objective (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Finally, Citigroup upped their price objective on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.55.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. AlphaQuest LLC raised its position in shares of Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after buying an additional 2,960 shares during the last quarter. FMR LLC raised its position in shares of Fastly by 124.2% during the third 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 last quarter. Jones Financial Companies Lllp raised its position in shares of Fastly by 128.9% during the fourth 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 last quarter. Wealthfront Advisers LLC acquired a new position in shares of Fastly during the fourth quarter valued at about $72,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Fastly during the fourth quarter valued at about $82,000. 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.