Artur Bergman Sells 32,181 Shares of Fastly (NYSE:FSLY) Stock

Key Points

• Fastly CTO Artur Bergman sold 32,181 shares on May 18 at an average price of $16.85, for about $542,250. After the sale, he still held 2,086,529 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
• Bergman has been actively selling Fastly stock in recent months, including another sale the next day and several large March transactions. The article highlights a series of insider sales rather than a one-off move.
• Fastly shares rose 4.6% to $17.12 despite the insider selling. Analyst sentiment remains mixed, with an average rating of “Hold” and a consensus price target of $22.63.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 32,181 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $542,249.85. Following the sale, the chief technology officer directly owned 2,086,529 shares in the company, valued at approximately $35,158,013.65. The trade was a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, May 19th, Artur Bergman sold 31,848 shares of Fastly stock. The stock was sold at an average price of $16.41, for a total transaction of $522,625.68.
• On Tuesday, March 10th, Artur Bergman sold 265,000 shares of Fastly stock. The stock was 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 stock was 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 stock was 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 stock was 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 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 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%

Shares of NYSE:FSLY traded up $0.76 during mid-day trading 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 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's fifty day moving average price is $25.25 and its 200-day moving average price is $16.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Fastly, Inc. has a twelve month low of $6.29 and a twelve month high of $34.82.

Analyst Ratings Changes

A number of equities analysts have recently commented on FSLY shares. KeyCorp lifted their price target on shares of Fastly from $14.00 to $27.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Citigroup lifted their price target on shares of Fastly from $13.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Royal Bank Of Canada cut their price target on shares of Fastly to $18.00 and set a "sector perform" rating on the stock in a report 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 report on Thursday, May 7th. Finally, William Blair upgraded shares of Fastly from a "market perform" rating to an "outperform" rating in a report on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $22.63.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in Fastly by 84.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company's stock valued at $40,000 after buying an additional 633 shares during the period. Sound Income Strategies LLC acquired a new position in Fastly in the first quarter valued at $44,000. EverSource Wealth Advisors LLC lifted its holdings in Fastly by 39.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company's stock valued at $64,000 after buying an additional 627 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Fastly in the fourth quarter valued at $41,000. Finally, Align Financial LLC acquired a new position in Fastly in the fourth quarter valued at $41,000. Institutional investors and hedge funds 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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