Insider Selling: Fastly (NYSE:FSLY) CTO Sells 18,338 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 18,338 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $17.53, for a total transaction of $321,465.14. Following the transaction, the chief technology officer owned 1,882,413 shares in the company, valued at approximately $32,998,699.89. The trade was a 0.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, February 17th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total transaction of $701,200.00.
• On Friday, February 13th, Artur Bergman sold 200,847 shares of Fastly stock. The stock was sold at an average price of $18.42, for a total value of $3,699,601.74.
• On Friday, February 13th, Artur Bergman sold 20,128 shares of Fastly stock. The shares were sold at an average price of $18.25, for a total value of $367,336.00.
• On Monday, February 9th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.84, for a total value of $176,800.00.
• On Monday, February 2nd, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $9.36, for a total value of $187,200.00.
• On Tuesday, January 27th, Artur Bergman sold 49,320 shares of Fastly stock. The stock was sold at an average price of $10.40, for a total value of $512,928.00.
• On Monday, January 26th, Artur Bergman sold 30,680 shares of Fastly stock. The stock was sold at an average price of $9.92, for a total transaction of $304,345.60.
• On Tuesday, January 20th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.18, for a total transaction of $163,600.00.
• On Monday, January 12th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $9.35, for a total transaction of $187,000.00.
• On Monday, January 5th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $10.27, for a total transaction of $410,800.00.

Fastly Price Performance

NYSE:FSLY traded up $0.01 during mid-day trading on Friday, reaching $18.08. The stock had a trading volume of 21,600,723 shares, compared to its average volume of 10,898,874. The stock has a 50-day simple moving average of $10.63 and a two-hundred day simple moving average of $9.46. The stock has a market capitalization of $2.70 billion, a PE ratio of -18.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $20.27.

Institutional Trading of Fastly

Institutional investors and hedge funds have recently bought and sold shares of the stock. Align Financial LLC acquired a new position in Fastly during the 4th quarter worth about $41,000. Byrne Asset Management LLC acquired a new position in shares of Fastly in the third quarter worth approximately $43,000. Quarry LP bought a new stake in Fastly in the third quarter valued at approximately $49,000. Geneos Wealth Management Inc. bought a new stake in Fastly in the first quarter valued at approximately $52,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Fastly during the 4th quarter valued at approximately $54,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on FSLY shares. Citigroup boosted their price target on Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Royal Bank Of Canada boosted their target price on Fastly from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 12th. Piper Sandler restated a “neutral” rating and issued a $14.00 price target (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Oppenheimer initiated coverage on shares of Fastly in a research report on Monday, November 17th. They set a “market perform” rating for the company. Finally, Wall Street Zen raised shares of Fastly from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.

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.