Fastly (NYSE:FSLY) CTO Sells $149,000.00 in 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 stock was sold at an average price of $7.45, for a total transaction of $149,000.00. Following the completion of the sale, the chief technology officer owned 3,501,276 shares of the company's stock, valued at $26,084,506.20. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 transaction 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 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 shares were sold at an average price of $6.88, for a total value of $181,755.84.

Fastly Price Performance

NYSE FSLY traded down $0.30 during trading on Wednesday, reaching $7.36. 2,465,803 shares of the company traded hands, compared to its average volume of 2,841,441. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 1.49. The stock's 50 day moving average price is $7.11 and its two-hundred day moving average price is $6.84. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -7.14 and a beta of 1.24. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $148.71 million during the quarter, compared to analyst estimates 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 was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) earnings per share. As a group, analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC increased its position in Fastly by 83.1% in the 1st quarter. Penserra Capital Management LLC now owns 7,177,688 shares of the company's stock valued at $45,434,000 after buying an additional 3,256,629 shares in the last quarter. Marshall Wace LLP raised its holdings in Fastly by 115.2% during the 2nd quarter. Marshall Wace LLP now owns 3,385,167 shares of the company's stock valued at $23,899,000 after acquiring an additional 1,811,935 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of Fastly by 3,941.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company's stock worth $9,383,000 after purchasing an additional 1,296,119 shares during the period. Cubist Systematic Strategies LLC bought a new position in Fastly in the second quarter valued at $6,697,000. Finally, Point72 Asset Management L.P. bought a new position in Fastly in the fourth quarter valued at $7,088,000. 79.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on FSLY shares. Craig Hallum raised shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Finally, KeyCorp raised shares of Fastly to a "sector weight" rating in a report on Thursday, June 5th. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.

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