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

Key Points

• Fastly's CTO, Artur Bergman, sold 20,000 shares at an average price of $8.76 on October 6th, reducing his ownership by 0.58% while still retaining over 3.4 million shares valued at approximately $30 million.
• The company reported a 12.3% year-over-year revenue increase in its latest earnings, with a total revenue of $148.71 million, beating analyst expectations.
• Institutional investors hold 79.71% of Fastly's stock, reflecting significant interest from hedge funds and other investment entities.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 20,000 shares of the business's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $8.76, for a total value of $175,200.00. Following the transaction, the chief technology officer directly owned 3,421,276 shares in the company, valued at $29,970,377.76. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, September 29th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.53, for a total transaction of $170,600.00.
• On Monday, September 22nd, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00.
• On Monday, September 15th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.56, for a total transaction of $171,200.00.
• On Monday, September 8th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $7.45, for a total transaction of $149,000.00.
• 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 transaction of $181,755.84.

Fastly Trading Up 4.1%

Shares of FSLY stock traded up $0.34 during trading hours on Wednesday, hitting $8.57. The company had a trading volume of 2,238,610 shares, compared to its average volume of 2,988,989. The company's fifty day moving average is $7.68 and its 200 day moving average is $7.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49. Fastly, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $12.08. The stock has a market capitalization of $1.26 billion, a PE ratio of -8.32 and a beta of 1.30.

Fastly (NYSE:FSLY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The company had revenue of $148.71 million during 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%.Fastly's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. Research analysts expect that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Transatlantique SA bought a new stake in shares of Fastly during the first quarter valued at about $38,000. GAMMA Investing LLC raised its position in Fastly by 451.7% in the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock worth $46,000 after acquiring an additional 5,945 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Fastly in the first quarter worth about $52,000. Oxford Asset Management LLP bought a new stake in Fastly in the second quarter worth about $83,000. Finally, Acadian Asset Management LLC bought a new stake in Fastly in the first quarter worth about $78,000. 79.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FSLY has been the subject of several research reports. Royal Bank Of Canada upped their price target on shares of Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Craig Hallum upgraded shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Fastly in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Fastly has an average rating of "Hold" and a consensus target price of $8.69.

Fastly Company Profile

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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