Insider Selling: Fastly (NYSE:FSLY) CTO Sells 20,000 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 20,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $8.53, for a total transaction of $170,600.00. Following the completion of the transaction, the chief technology officer owned 3,441,276 shares of the company’s stock, valued at $29,354,084.28. This trade represents a 0.58% decrease in their ownership of the stock. The transaction 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 Monday, September 22nd, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.70, for a total value 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 value of $171,200.00.
• On Monday, September 8th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $7.45, for a total value 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 value 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 value 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 shares were sold at an average price of $6.88, for a total transaction of $181,755.84.

Fastly Stock Performance

Shares of FSLY opened at $8.65 on Thursday. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08. The stock has a market capitalization of $1.27 billion, a P/E ratio of -8.40 and a beta of 1.30. The firm’s 50 day moving average is $7.56 and its 200-day moving average is $7.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $148.71 million during the quarter, compared to analysts’ expectations of $144.86 million. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) earnings per share. Equities research analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new position in Fastly in the 1st quarter valued at approximately $38,000. GAMMA Investing LLC increased its stake in shares of Fastly by 451.7% in the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company’s stock worth $46,000 after acquiring an additional 5,945 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Fastly during the first quarter worth $52,000. Acadian Asset Management LLC purchased a new stake in shares of Fastly during the first quarter worth $78,000. Finally, Oxford Asset Management LLP acquired a new stake in Fastly during the second quarter valued at $83,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. KeyCorp raised Fastly to a “sector weight” rating in a report on Thursday, June 5th. Royal Bank Of Canada upped their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Finally, Craig Hallum raised 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. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.69.

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.