Artur Bergman Sells 31,079 Shares of Fastly (NYSE:FSLY) Stock

Key Points

• Fastly CTO Artur Bergman sold 31,079 shares on March 5 at an average price of $20.69 for $643,024, leaving him with 2,118,710 shares (a 1.45% reduction in his stake).
• Bergman has conducted numerous large sales in Feb–Mar, including a 200,847-share sale on Feb 13 for about $3.7 million and multiple 20k–40k+ share transactions, signaling sustained insider selling activity.
• Fastly shares traded near a 52-week high (~$21.83) with a market cap of about $3.31 billion, but analysts' consensus remains "Hold" with a $13.14 target and institutions own roughly 79.7% of the stock.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 31,079 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $20.69, for a total transaction of $643,024.51. Following the sale, the chief technology officer owned 2,118,710 shares of the company's stock, valued at approximately $43,836,109.90. This represents a 1.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, March 4th, Artur Bergman sold 24,532 shares of Fastly stock. The stock was sold at an average price of $21.06, for a total transaction of $516,643.92.
• On Friday, February 27th, Artur Bergman sold 869 shares of Fastly stock. The stock was sold at an average price of $17.50, for a total transaction of $15,207.50.
• On Monday, February 23rd, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.08, for a total transaction of $683,200.00.
• On Thursday, February 19th, Artur Bergman sold 34,576 shares of Fastly stock. The shares were sold at an average price of $20.10, for a total transaction of $694,977.60.
• On Thursday, February 19th, Artur Bergman sold 39,881 shares of Fastly stock. The shares were sold at an average price of $18.89, for a total transaction of $753,352.09.
• On Wednesday, February 18th, Artur Bergman sold 18,338 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total value of $321,465.14.
• On Tuesday, February 17th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total value of $701,200.00.
• On Friday, February 13th, Artur Bergman sold 200,847 shares of Fastly stock. The shares were sold at an average price of $18.42, for a total transaction of $3,699,601.74.
• On Friday, February 13th, Artur Bergman sold 20,128 shares of Fastly stock. The stock was sold at an average price of $18.25, for a total transaction of $367,336.00.
• On Monday, February 9th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.84, for a total value of $176,800.00.

Fastly Stock Performance

NYSE:FSLY traded up $1.69 during mid-day trading on Monday, hitting $21.83. The stock had a trading volume of 10,991,104 shares, compared to its average volume of 11,266,226. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $12.58 and a 200-day simple moving average of $10.44. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -22.74 and a beta of 0.88. Fastly, Inc. has a 52 week low of $4.65 and a 52 week high of $21.85.

Analyst Ratings Changes

Several brokerages recently issued reports on FSLY. DA Davidson set a $13.00 price objective on Fastly in a report on Thursday, February 12th. Citigroup lifted their price target on Fastly from $10.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, February 13th. Royal Bank Of Canada boosted their price target on Fastly from $12.00 to $20.00 and gave the company a "sector perform" rating in a research note on Monday, March 2nd. Oppenheimer started coverage on shares of Fastly in a report on Monday, November 17th. They set a "market perform" rating for the company. Finally, Wall Street Zen raised shares of Fastly from a "hold" rating to a "buy" rating in a report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Fastly presently has an average rating of "Hold" and a consensus target price of $13.14.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FSLY. Vanguard Group Inc. increased its position in shares of Fastly by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company's stock worth $172,825,000 after acquiring an additional 310,234 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Fastly by 3.4% during the second quarter. Legal & General Group Plc now owns 8,943,224 shares of the company's stock worth $63,139,000 after buying an additional 291,617 shares during the period. Morgan Stanley grew its holdings in shares of Fastly by 14.7% during the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company's stock worth $84,893,000 after buying an additional 1,071,222 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Fastly in the 3rd quarter valued at approximately $61,864,000. Finally, Alyeska Investment Group L.P. lifted its stake in Fastly by 2,795.2% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company's stock valued at $48,754,000 after acquiring an additional 4,623,767 shares in the last quarter. Institutional investors own 79.71% of the company's stock.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly's real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.

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