Fastly (NYSE:FSLY) CTO Artur Bergman Sells 1,077 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 1,077 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $17.02, for a total value of $18,330.54. Following the completion of the sale, the chief technology officer owned 2,052,752 shares of the company’s stock, valued at approximately $34,937,839.04. This trade represents a 0.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 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 value 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 value 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 value 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 value 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 value of $842,800.00.
• On Monday, March 2nd, Artur Bergman sold 275,234 shares of Fastly stock. The shares were sold at an average price of $20.56, for a total value of $5,658,811.04.
• On Thursday, March 5th, Artur Bergman sold 31,079 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total value of $643,024.51.
• On Wednesday, March 4th, Artur Bergman sold 24,532 shares of Fastly stock. The shares were sold at an average price of $21.06, for a total value of $516,643.92.

Fastly Price Performance

FSLY stock opened at $17.76 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Fastly, Inc. has a 1 year low of $6.29 and a 1 year high of $34.82. The firm has a market cap of $2.78 billion, a P/E ratio of -18.50 and a beta of 0.49. The stock has a 50-day simple moving average of $24.13 and a 200-day simple moving average of $16.86.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Fastly by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after buying an additional 310,234 shares during the last quarter. Morgan Stanley lifted its holdings in Fastly by 14.7% during the 4th quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after buying an additional 1,071,222 shares during the last quarter. Penserra Capital Management LLC bought a new position in Fastly during the 3rd quarter worth approximately $61,864,000. First Trust Advisors LP lifted its holdings in Fastly by 100.5% during the 1st quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock worth $204,349,000 after buying an additional 3,524,763 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Fastly by 2,795.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after buying an additional 4,623,767 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. DA Davidson set a $13.00 target price on Fastly in a research note on Thursday, February 12th. Evercore assumed coverage on Fastly in a report on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target for the company. Raymond James Financial raised Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Friday, May 8th. Citigroup increased their price target on Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, William Blair raised Fastly from a “market perform” rating to an “outperform” rating in a report on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.63.

About Fastly

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.