Artur Bergman Sells 31,848 Shares of Fastly (NYSE:FSLY) Stock

Key Points

• Fastly CTO Artur Bergman sold 31,848 shares on May 19 at an average price of $16.41, totaling about $522,626. After the sale, he still held about 2.05 million shares.
• The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Bergman has made several other sizable Fastly stock sales in recent months.
• Fastly shares rose 4.6% to $17.12, while analysts currently rate the stock a consensus "Hold" with an average price target of $22.63.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 31,848 shares of the business's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $16.41, for a total transaction of $522,625.68. Following the completion of the sale, the chief technology officer owned 2,054,681 shares in the company, valued at approximately $33,717,315.21. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 18th, Artur Bergman sold 32,181 shares of Fastly stock. The shares were sold at an average price of $16.85, for a total transaction of $542,249.85.
• On Tuesday, March 10th, Artur Bergman sold 265,000 shares of Fastly stock. The shares were sold at an average price of $22.79, for a total transaction of $6,039,350.00.
• On Monday, March 9th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $21.07, for a total transaction of $842,800.00.
• On Monday, March 2nd, Artur Bergman sold 275,234 shares of Fastly stock. The shares were sold at an average price of $20.56, for a total transaction of $5,658,811.04.
• On Thursday, March 5th, Artur Bergman sold 31,079 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total transaction of $643,024.51.
• On Wednesday, March 4th, Artur Bergman sold 24,532 shares of Fastly stock. The shares were 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 stock was 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 stock was 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 stock was sold at an average price of $18.89, for a total transaction of $753,352.09.

Fastly Trading Up 4.6%

NYSE:FSLY traded up $0.76 on Wednesday, reaching $17.12. 6,247,769 shares of the company's stock were exchanged, compared to its average volume of 12,064,143. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -17.83 and a beta of 0.49. The business has a fifty day moving average of $25.25 and a 200-day moving average of $16.48. Fastly, Inc. has a 52-week low of $6.29 and a 52-week high of $34.82.

Institutional Trading of Fastly

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of Fastly by 84.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company's stock worth $40,000 after buying an additional 633 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Fastly during the first quarter worth approximately $44,000. EverSource Wealth Advisors LLC increased its stake in shares of Fastly by 39.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company's stock worth $64,000 after buying an additional 627 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Fastly during the fourth quarter worth approximately $41,000. Finally, Align Financial LLC purchased a new stake in shares of Fastly during the fourth quarter worth approximately $41,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Citigroup boosted their price target on shares of Fastly from $13.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Piper Sandler cut their price target on shares of Fastly to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. William Blair upgraded shares of Fastly from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 12th. Raymond James Financial upgraded shares of Fastly from a "market perform" rating to an "outperform" rating and set a $23.00 price target on the stock in a research note on Friday, May 8th. Finally, KeyCorp upped their target price on shares of Fastly from $14.00 to $27.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $22.63.

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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