Fastly (NYSE:FSLY) CTO Artur Bergman Sells 24,532 Shares

Key Points

• Artur Bergman, Fastly's CTO, sold 24,532 shares on March 4 at an average price of $21.06 for about $516,644 and now directly owns 2,149,789 shares (a ~1.13% decrease, valued at roughly $45.27 million).
• Bergman has been selling heavily in recent weeks, disposing of roughly 459,000 shares across multiple transactions from early February through March, including a 200,847-share sale on Feb. 13.
• For context, Fastly traded at $20.44 (up ~2%) with a 52‑week high of $21.75; analysts’ consensus is a "Hold" with an average target of $13.14 and institutional ownership around 79.7%.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 24,532 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $21.06, for a total transaction of $516,643.92. Following the sale, the chief technology officer directly owned 2,149,789 shares in the company, valued at approximately $45,274,556.34. This represents a 1.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 stock was sold at an average price of $18.89, for a total value of $753,352.09.
• On Wednesday, February 18th, Artur Bergman sold 18,338 shares of Fastly stock. The shares were 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 stock was sold at an average price of $18.42, for a total value of $3,699,601.74.
• On Friday, February 13th, Artur Bergman sold 20,128 shares of Fastly stock. The shares were sold at an average price of $18.25, for a total value of $367,336.00.
• On Monday, February 9th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.84, for a total value of $176,800.00.
• On Monday, February 2nd, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $9.36, for a total value of $187,200.00.

Fastly Trading Up 2.0%

Fastly stock traded up $0.40 during trading hours on Thursday, reaching $20.44. 11,823,004 shares of the company's stock traded hands, compared to its average volume of 11,231,076. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of -21.29 and a beta of 0.88. 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 fifty-two week low of $4.65 and a fifty-two week high of $21.75. The firm's 50 day moving average is $12.19 and its 200-day moving average is $10.23.

Analyst Ratings Changes

A number of equities analysts have issued reports on FSLY shares. Citigroup raised their price objective on shares of Fastly from $10.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, February 13th. DA Davidson set a $13.00 price target on Fastly in a research report on Thursday, February 12th. Royal Bank Of Canada lifted their price objective on Fastly from $12.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Monday. William Blair raised Fastly from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 12th. Finally, Wall Street Zen upgraded 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $13.14.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in Fastly during the 4th quarter worth about $41,000. Align Financial LLC acquired a new stake in shares of Fastly in the fourth quarter valued at about $41,000. Byrne Asset Management LLC bought a new stake in Fastly during the third quarter worth about $43,000. Quarry LP bought a new stake in Fastly during the third quarter worth about $49,000. Finally, Geneos Wealth Management Inc. acquired a new position in Fastly during the first quarter valued at approximately $52,000. Institutional investors own 79.71% of the company's stock.

Fastly Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.