Fastly (NYSE:FSLY) CTO Sells $165,353.44 in Stock

Key Points

• Fastly CTO Artur Bergman sold 7,889 shares on June 3 at an average price of $20.96, totaling $165,353.44. After the sale, he still held about 2.04 million shares worth roughly $42.7 million.
• The transaction was made under a pre-arranged Rule 10b5-1 trading plan, and it follows a series of recent insider sales by Bergman in late May and March.
• Fastly’s stock fell to $18.07 in Friday trading, while analysts currently have a consensus Hold rating on the shares with an average price target of $22.63.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 7,889 shares of Fastly stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $20.96, for a total transaction of $165,353.44. Following the sale, the chief technology officer owned 2,038,638 shares in the company, valued at approximately $42,729,852.48. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 Friday, May 29th, Artur Bergman sold 6,225 shares of Fastly stock. The shares were sold at an average price of $16.96, for a total transaction of $105,576.00.
• On Thursday, May 28th, Artur Bergman sold 1,077 shares of Fastly stock. The shares were sold at an average price of $17.02, for a total transaction of $18,330.54.
• On Wednesday, May 27th, Artur Bergman sold 852 shares of Fastly stock. The shares were sold at an average price of $17.50, for a total transaction of $14,910.00.
• On Tuesday, May 19th, Artur Bergman sold 31,848 shares of Fastly stock. The shares were sold at an average price of $16.41, for a total transaction of $522,625.68.
• On Monday, May 18th, Artur Bergman sold 32,181 shares of Fastly stock. The shares were sold at an average price of $16.85, for a total transaction of $542,249.85.
• On Tuesday, March 10th, Artur Bergman sold 265,000 shares of Fastly stock. The shares were 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 shares were sold at an average price of $21.07, for a total transaction of $842,800.00.

Fastly Price Performance

NYSE:FSLY traded down $1.84 on Friday, reaching $18.07. The stock had a trading volume of 7,975,609 shares, compared to its average volume of 11,636,831. The company has a market capitalization of $2.83 billion, a P/E ratio of -18.82 and a beta of 0.37. Fastly, Inc. has a 1-year low of $6.29 and a 1-year high of $34.82. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $23.57 and a 200-day moving average price of $17.14.

Hedge Funds Weigh In On Fastly

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in shares of Fastly by 120.0% in the first quarter. Bank of America Corp DE now owns 1,269,369 shares of the company's stock worth $36,888,000 after acquiring an additional 692,459 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Fastly by 26.2% in the first quarter. Janus Henderson Group PLC now owns 67,050 shares of the company's stock worth $1,948,000 after acquiring an additional 13,900 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Fastly by 10.0% in the first quarter. Sunbelt Securities Inc. now owns 77,944 shares of the company's stock worth $2,265,000 after acquiring an additional 7,076 shares during the last quarter. Amundi raised its stake in shares of Fastly by 4.6% in the first quarter. Amundi now owns 48,441 shares of the company's stock worth $1,408,000 after acquiring an additional 2,129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Fastly by 39.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company's stock worth $64,000 after acquiring an additional 627 shares during the last quarter. 79.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

FSLY has been the topic of a number of recent analyst reports. Craig Hallum lowered shares of Fastly from a "buy" rating to a "hold" rating and set a $24.00 price target on the stock. in a research report on Tuesday, April 14th. Evercore initiated coverage on shares of Fastly in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $24.00 price target on the stock. Royal Bank Of Canada reduced their price target on shares of Fastly to $18.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 7th. Raymond James Financial upgraded shares of Fastly from a "market perform" rating to an "outperform" rating and set a $23.00 price target on the stock in a research report on Friday, May 8th. Finally, Citigroup boosted their price target on shares of Fastly from $13.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $22.63.

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.

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