Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells 16,922 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 16,922 shares of Fastly stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $105,762.50. Following the sale, the chief technology officer now owns 6,138,900 shares of the company’s stock, valued at approximately $38,368,125. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, November 6th, Artur Bergman sold 49,178 shares of Fastly stock. The shares were sold at an average price of $8.07, for a total transaction of $396,866.46.
• On Tuesday, September 3rd, Artur Bergman sold 19,889 shares of Fastly stock. The shares were sold at an average price of $5.96, for a total transaction of $118,538.44.

Fastly Trading Up 3.7 %

Shares of FSLY stock opened at $7.89 on Friday. The company’s 50-day moving average price is $7.29 and its 200-day moving average price is $7.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly, Inc. has a twelve month low of $5.52 and a twelve month high of $25.87.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $131.86 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Fastly’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that Fastly, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

FSLY has been the subject of several analyst reports. Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their target price on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Craig Hallum boosted their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Morgan Stanley cut their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Finally, DA Davidson boosted their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.94.

Institutional Trading of Fastly

Hedge funds have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co increased its stake in shares of 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 buying an additional 466,560 shares during the period. Vanguard Group Inc. increased its stake 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 buying an additional 657,334 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of Fastly during the second quarter worth approximately $586,000. SG Americas Securities LLC increased its stake in shares of Fastly by 77.5% during the third quarter. SG Americas Securities LLC now owns 221,357 shares of the company’s stock worth $1,676,000 after buying an additional 96,664 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Fastly by 1,197.4% during the second quarter. Marshall Wace LLP now owns 151,172 shares of the company’s stock worth $1,114,000 after buying an additional 139,520 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

About Fastly

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.