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 $8.22, totaling $164,400, reducing his ownership by 0.58% to approximately 3.4 million shares.
• The company recently reported earnings per share of ($0.03), exceeding estimates, with a revenue increase of 12.3% compared to the previous year.
• Fastly's stock currently has an average rating of "Hold" with a price target of $8.69, reflecting various ratings from multiple research analysts.

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 20,000 shares of the company's stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $8.22, for a total transaction of $164,400.00. Following the completion of the sale, the chief technology officer directly owned 3,401,276 shares of the company's stock, valued at $27,958,488.72. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, October 6th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.76, for a total transaction of $175,200.00.
• 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 stock was 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 stock was sold at an average price of $6.88, for a total transaction of $181,755.84.

Fastly Stock Performance

NYSE FSLY traded up $0.31 during trading hours on Wednesday, hitting $8.38. 2,237,160 shares of the stock were exchanged, compared to its average volume of 2,983,020. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -8.13 and a beta of 1.30. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08. The stock has a 50-day moving average of $7.86 and a 200 day moving average of $7.12. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.16.

Fastly (NYSE:FSLY - Get Free Report) last issued its earnings results 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. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The company had revenue of $148.71 million for the quarter, compared to analyst estimates of $144.86 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The firm's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities research analysts forecast that Fastly, Inc. will post -0.78 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Craig Hallum upgraded shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada increased 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. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Fastly in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.69.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vident Advisory LLC boosted its holdings in shares of Fastly by 4.4% in the 1st quarter. Vident Advisory LLC now owns 34,316 shares of the company's stock valued at $217,000 after purchasing an additional 1,438 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Fastly by 6.1% in the 1st quarter. Hsbc Holdings PLC now owns 27,938 shares of the company's stock valued at $175,000 after purchasing an additional 1,612 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Fastly by 12.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,852 shares of the company's stock valued at $113,000 after purchasing an additional 1,975 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Fastly by 0.9% in the 1st quarter. Federated Hermes Inc. now owns 211,638 shares of the company's stock valued at $1,340,000 after purchasing an additional 1,988 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fastly by 12.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,433 shares of the company's stock valued at $137,000 after purchasing an additional 2,210 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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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