Insider Selling: Fastly (NYSE:FSLY) CTO Sells 20,000 Shares of Stock

Key Points

• Artur Bergman, CTO of Fastly, sold 20,000 shares at an average price of $8.56, totaling $171,200, which reduces his ownership by 0.57% to approximately 3.48 million shares.
• Fastly's stock has seen increased trading activity, with a current price of $8.62, up 2.4%, and a market cap of $1.27 billion, according to the latest trading report.
• Recent analyst upgrades have boosted Fastly's ratings, with Craig Hallum raising it from "hold" to "buy" and setting a target price of $10.00, indicating a positive outlook for the company's shares.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 20,000 shares of Fastly stock in a transaction on Monday, September 15th. The stock was sold at an average price of $8.56, for a total value of $171,200.00. Following the transaction, the chief technology officer directly owned 3,481,276 shares of the company's stock, valued at approximately $29,799,722.56. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, September 8th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $7.45, for a total value of $149,000.00.
• On Tuesday, September 2nd, Artur Bergman sold 58,138 shares of Fastly stock. The stock was sold at an average price of $7.41, for a total value of $430,802.58.
• On Wednesday, August 27th, Artur Bergman sold 849 shares of Fastly stock. The stock was sold at an average price of $7.30, for a total value of $6,197.70.
• On Tuesday, August 19th, Artur Bergman sold 19,353 shares of Fastly stock. The stock was sold at an average price of $7.33, for a total value of $141,857.49.
• On Monday, August 18th, Artur Bergman sold 26,418 shares of Fastly stock. The stock was sold at an average price of $6.88, for a total value of $181,755.84.

Fastly Price Performance

Fastly stock traded down $0.34 during mid-day trading on Friday, hitting $8.61. 14,507,857 shares of the company were exchanged, compared to its average volume of 2,850,358. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49. The business's 50 day simple moving average is $7.31 and its two-hundred day simple moving average is $6.93. The company has a market capitalization of $1.27 billion, a P/E ratio of -8.36 and a beta of 1.24. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $148.71 million during the quarter, compared to the consensus estimate of $144.86 million. Fastly had a negative return on equity of 11.98% and a negative net margin of 25.85%.Fastly's revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) earnings per share. Analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fastly

Institutional investors have recently bought and sold shares of the stock. Vident Advisory LLC grew its holdings in shares of Fastly by 4.4% in the 1st quarter. Vident Advisory LLC now owns 34,316 shares of the company's stock valued at $217,000 after buying an additional 1,438 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Fastly by 6.1% in the 1st quarter. Hsbc Holdings PLC now owns 27,938 shares of the company's stock valued at $175,000 after buying an additional 1,612 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Fastly by 12.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,852 shares of the company's stock valued at $113,000 after buying an additional 1,975 shares during the period. Federated Hermes Inc. grew its holdings in shares of Fastly by 0.9% in the 1st quarter. Federated Hermes Inc. now owns 211,638 shares of the company's stock valued at $1,340,000 after buying an additional 1,988 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Fastly by 12.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,433 shares of the company's stock valued at $137,000 after buying an additional 2,210 shares during the period. 79.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on FSLY shares. Craig Hallum upgraded Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their price target on Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Finally, KeyCorp upgraded Fastly to a "sector weight" rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.69.

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.