Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 19,889 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 19,889 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the transaction, the chief technology officer now owns 6,205,000 shares in the company, valued at $36,981,800. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, August 19th, Artur Bergman sold 1,091 shares of Fastly stock. The stock was sold at an average price of $6.46, for a total value of $7,047.86.
• On Friday, August 16th, Artur Bergman sold 16,748 shares of Fastly stock. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64.

Fastly Stock Performance

NYSE:FSLY opened at $5.91 on Friday. The firm’s fifty day simple moving average is $6.97 and its 200 day simple moving average is $9.59. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $806.85 million, a price-to-earnings ratio of -5.91 and a beta of 1.20.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $132.37 million for the quarter, compared to analysts’ expectations of $131.62 million. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. Fastly’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.32) earnings per share. As a group, equities research analysts expect that Fastly, Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fastly

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Fastly by 5.1% during the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after purchasing an additional 657,334 shares during the period. First Trust Advisors LP lifted its position in shares of Fastly by 21.8% in the 4th quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after acquiring an additional 998,749 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Fastly by 9.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after acquiring an additional 162,659 shares during the period. Jennison Associates LLC bought a new stake in shares of Fastly in the 1st quarter valued at approximately $13,724,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after acquiring an additional 466,560 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSLY has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Craig Hallum decreased their target price on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Raymond James dropped their price objective on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Piper Sandler downgraded Fastly from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $6.00 in a report on Thursday, August 8th. Finally, Citigroup dropped their price objective on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Fastly presently has an average rating of “Hold” and a consensus price target of $7.81.

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.