Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells 1,372 Shares of Stock

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 1,372 shares of Fastly stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $7.73, for a total transaction of $10,605.56. Following the completion of the sale, the chief technology officer now directly owns 3,626,034 shares of the company's stock, valued at approximately $28,029,242.82. The trade was a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, May 28th, Artur Bergman sold 558 shares of Fastly stock. The shares were sold at an average price of $7.42, for a total transaction of $4,140.36.

Fastly Stock Performance

Shares of NYSE FSLY traded up $0.63 during mid-day trading on Monday, hitting $8.29. The company had a trading volume of 7,137,636 shares, compared to its average volume of 3,090,613. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The business's 50-day simple moving average is $6.52 and its 200-day simple moving average is $7.99. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $12.08. The firm has a market cap of $1.20 billion, a P/E ratio of -7.27 and a beta of 1.29.

Fastly (NYSE:FSLY - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. The business had revenue of $144.47 million during the quarter, compared to analysts' expectations of $138.40 million. During the same quarter last year, the company earned ($0.05) earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. As a group, analysts predict that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FSLY. Alyeska Investment Group L.P. acquired a new position in Fastly in the fourth quarter worth about $35,334,000. Penserra Capital Management LLC raised its position in Fastly by 83.1% in the first quarter. Penserra Capital Management LLC now owns 7,177,688 shares of the company's stock worth $45,434,000 after purchasing an additional 3,256,629 shares in the last quarter. Marshall Wace LLP acquired a new position in Fastly in the fourth quarter worth about $7,618,000. Point72 Asset Management L.P. acquired a new position in Fastly in the fourth quarter worth about $7,088,000. Finally, Two Sigma Investments LP raised its position in Fastly by 179.3% in the fourth quarter. Two Sigma Investments LP now owns 1,101,329 shares of the company's stock worth $10,397,000 after purchasing an additional 707,053 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.

Wall Street Analysts Forecast Growth

FSLY has been the subject of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Fastly in a report on Thursday, March 20th. They set a "market perform" rating for the company. Piper Sandler upped their price target on shares of Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley upped their price target on shares of Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Royal Bank of Canada upped their price target on shares of Fastly from $5.00 to $6.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Finally, KeyCorp upgraded shares of Fastly to a "sector weight" rating in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Fastly presently has a consensus rating of "Hold" and an average price target of $8.28.

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.