Fastly (NYSE:FSLY) CTO Artur Bergman Sells 20,000 Shares

Key Points

• Fastly's CTO Artur Bergman sold 20,000 shares of the company stock on October 20th for approximately $164,600, reducing his ownership by 0.59%.
• Fastly's stock has shown fluctuations, recently priced at $8.03, with a 52-week low of $4.65 and a high of $12.08.
• Recent earnings showed **improvements**, with a reported revenue of $148.71 million for the last quarter, exceeding analysts' expectations.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 20,000 shares of Fastly stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $8.23, for a total transaction of $164,600.00. Following the sale, the chief technology officer owned 3,381,276 shares in the company, valued at approximately $27,827,901.48. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, October 13th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.22, for a total transaction of $164,400.00.
• On Monday, October 6th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.76, for a total transaction of $175,200.00.
• On Monday, September 29th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.53, for a total value of $170,600.00.
• On Monday, September 22nd, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00.
• On Monday, September 15th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.56, for a total transaction of $171,200.00.
• On Monday, September 8th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $7.45, for a total transaction of $149,000.00.
• On Tuesday, September 2nd, Artur Bergman sold 58,138 shares of Fastly stock. The shares were sold at an average price of $7.41, for a total transaction 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 transaction 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 transaction 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 transaction of $181,755.84.

Fastly Stock Performance

FSLY stock traded down $0.21 during trading hours on Wednesday, reaching $8.03. The stock had a trading volume of 2,136,865 shares, compared to its average volume of 2,964,022. The stock has a market capitalization of $1.18 billion, a PE ratio of -7.79 and a beta of 1.30. 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 stock has a 50-day simple moving average of $7.98 and a 200 day simple moving average of $7.19. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on FSLY shares. Craig Hallum raised shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Fastly in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $8.69.

Institutional Investors Weigh In On Fastly

A number of hedge funds have recently made changes to their positions in the business. Caxton Associates LLP bought a new stake in Fastly in the first quarter valued at $800,000. Hsbc Holdings PLC raised its position in shares of Fastly by 6.1% in the 1st quarter. Hsbc Holdings PLC now owns 27,938 shares of the company's stock worth $175,000 after purchasing an additional 1,612 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Fastly in the 1st quarter worth about $91,000. Allianz Asset Management GmbH purchased a new position in Fastly in the 1st quarter worth about $111,000. Finally, Oppenheimer & Co. Inc. raised its position in Fastly by 423.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,628 shares of the company's stock worth $523,000 after buying an additional 66,828 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

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.

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