Fastly (NASDAQ:FSLY) CTO Artur Bergman Sells 33,078 Shares of Company Stock

Key Points

• Fastly CTO Artur Bergman sold 33,078 shares at an average price of $24.75, generating $818,680.50. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct holdings by 2.91% to 1,105,280 shares.
• Bergman has made several additional sales in September, including 379,602 shares sold for approximately $11.45 million on September 23, indicating substantial recent insider selling.
• Fastly shares traded around $25.67, while the company’s latest quarterly results exceeded estimates with $183.32 million in revenue and $0.15 EPS. Analysts’ consensus rating was “Hold,” with an average price target of $26.73.

Fastly, Inc. (NASDAQ:FSLY - Get Free Report) CTO Artur Bergman sold 33,078 shares of Fastly stock in a transaction on Monday, September 28th. The shares were sold at an average price of $24.75, for a total transaction of $818,680.50. Following the completion of the transaction, the chief technology officer directly owned 1,105,280 shares of the company's stock, valued at $27,355,680. The trade was a 2.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 29th, Artur Bergman sold 3,961 shares of Fastly stock. The stock was sold at an average price of $25.26, for a total transaction of $100,054.86.
• On Wednesday, September 23rd, Artur Bergman sold 379,602 shares of Fastly stock. The shares were sold at an average price of $30.16, for a total value of $11,448,796.32.
• On Tuesday, September 22nd, Artur Bergman sold 27,900 shares of Fastly stock. The shares were sold at an average price of $27.82, for a total value of $776,178.00.
• On Monday, September 21st, Artur Bergman sold 49,146 shares of Fastly stock. The shares were sold at an average price of $27.38, for a total value of $1,345,617.48.
• On Thursday, September 17th, Artur Bergman sold 2,200 shares of Fastly stock. The stock was sold at an average price of $25.30, for a total value of $55,660.00.
• On Monday, September 14th, Artur Bergman sold 31,079 shares of Fastly stock. The stock was sold at an average price of $24.53, for a total value of $762,367.87.
• On Tuesday, September 15th, Artur Bergman sold 2,500 shares of Fastly stock. The shares were sold at an average price of $25.14, for a total value of $62,850.00.
• On Wednesday, September 9th, Artur Bergman sold 8,960 shares of Fastly stock. The shares were sold at an average price of $22.72, for a total value of $203,571.20.
• On Tuesday, September 8th, Artur Bergman sold 300 shares of Fastly stock. The stock was sold at an average price of $22.51, for a total value of $6,753.00.
• On Thursday, September 3rd, Artur Bergman sold 18,519 shares of Fastly stock. The shares were sold at an average price of $20.90, for a total transaction of $387,047.10.

Fastly Price Performance

Fastly stock traded up $0.19 during midday trading on Wednesday, reaching $25.67. The company had a trading volume of 6,194,339 shares, compared to its average volume of 9,340,493. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.36 and a quick ratio of 3.36. Fastly, Inc. has a 12-month low of $7.74 and a 12-month high of $34.82. The company has a market capitalization of $4.09 billion, a P/E ratio of -48.43 and a beta of 0.36. The firm's fifty day simple moving average is $23.94 and its 200-day simple moving average is $22.69.

Fastly (NASDAQ:FSLY - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.07 by $0.08. The firm had revenue of $183.32 million for the quarter, compared to analyst estimates of $173.94 million. Fastly had a negative net margin of 11.80% and a negative return on equity of 6.31%. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. As a group, equities analysts anticipate that Fastly, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Fastly

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in Fastly by 120.0% in the 1st quarter. Bank of America Corp DE now owns 1,269,369 shares of the company's stock valued at $36,888,000 after purchasing an additional 692,459 shares during the last quarter. Convergence Investment Partners LLC purchased a new position in shares of Fastly during the first quarter valued at approximately $1,951,000. Range Financial Group LLC acquired a new stake in Fastly during the first quarter worth approximately $1,667,000. Castleark Management LLC purchased a new stake in Fastly in the 1st quarter worth approximately $5,164,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Fastly during the second quarter worth $8,696,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FSLY shares. Freedom Capital raised Fastly to a "strong-buy" rating in a report on Thursday, July 16th. KeyCorp reissued an "overweight" rating and issued a $30.00 price objective on shares of Fastly in a report on Friday, September 18th. DA Davidson upped their price target on shares of Fastly from $21.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, September 23rd. Evercore reiterated an "outperform" rating on shares of Fastly in a research note on Wednesday, September 23rd. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $25.00 price objective on shares of Fastly in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.73.

About Fastly

Fastly, Inc is a cloud computing company that provides an edge cloud platform for delivering, securing and accelerating digital experiences. Its platform processes and serves applications, websites, APIs, streaming media and other internet content closer to end users, helping organizations improve performance, reliability and control.

Fastly's product portfolio includes content delivery and application performance services, application programming interface (API) security, web application and bot protection, distributed denial-of-service (DDoS) mitigation, and edge compute capabilities.

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.