Insider Selling: Fastly (NYSE:FSLY) CTO Sells 20,000 Shares of Stock

Key Points

• Fastly's CTO, Artur Bergman, sold 20,000 shares of stock for a total of $149,000, reducing his ownership by 0.57% to approximately 3.5 million shares valued at over $26 million.
• The stock has experienced a recent trading price of $7.36, with a 1-year low of $4.65 and a 1-year high of $12.08.
• Fastly reported earnings that exceeded analyst expectations, with revenue of $148.71 million for the last quarter, up 12.3% year-over-year.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 20,000 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $7.45, for a total value of $149,000.00. Following the transaction, the chief technology officer directly owned 3,501,276 shares in the company, valued at $26,084,506.20. This represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 value of $430,802.58.
• On Wednesday, August 27th, Artur Bergman sold 849 shares of Fastly stock. The shares were sold at an average price of $7.30, for a total value of $6,197.70.
• On Tuesday, August 19th, Artur Bergman sold 19,353 shares of Fastly stock. The shares were sold at an average price of $7.33, for a total value of $141,857.49.
• On Monday, August 18th, Artur Bergman sold 26,418 shares of Fastly stock. The shares were sold at an average price of $6.88, for a total value of $181,755.84.

Fastly Stock Up 13.4%

FSLY traded up $1.04 during trading on Monday, reaching $8.77. 9,568,977 shares of the company were exchanged, compared to its average volume of 2,234,591. The company's 50-day moving average is $7.15 and its two-hundred day moving average is $6.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 1.49. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08.

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

Hedge Funds Weigh In On Fastly

Several institutional investors have recently modified their holdings of FSLY. Banque Transatlantique SA bought a new position in shares of Fastly during the 1st quarter valued at about $38,000. GAMMA Investing LLC increased its position in shares of Fastly by 451.7% during the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after purchasing an additional 5,945 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Fastly during the 1st quarter valued at about $52,000. Acadian Asset Management LLC bought a new position in shares of Fastly during the 1st quarter valued at about $78,000. Finally, Oxford Asset Management LLP bought a new position in Fastly during the 2nd quarter worth approximately $83,000. 79.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FSLY. KeyCorp raised Fastly to a "sector weight" rating in a report on Thursday, June 5th. Craig Hallum raised Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price target on Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $8.69.

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.