Fastly, Inc. (NASDAQ:FSLY – Get Free Report) CTO Artur Bergman sold 37,039 shares of the stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $26.81, for a total value of $993,015.59. Following the completion of the transaction, the chief technology officer directly owned 1,061,278 shares in the company, valued at $28,452,863.18. The trade was a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Artur Bergman also recently made the following trade(s):
- On Friday, October 9th, Artur Bergman sold 3,002 shares of Fastly stock. The stock was sold at an average price of $30.07, for a total value of $90,270.14.
- On Tuesday, September 29th, Artur Bergman sold 3,961 shares of Fastly stock. The stock was sold at an average price of $25.26, for a total value of $100,054.86.
- On Monday, September 28th, Artur Bergman sold 33,078 shares of Fastly stock. The stock was sold at an average price of $24.75, for a total value of $818,680.50.
- On Wednesday, September 23rd, Artur Bergman sold 379,602 shares of Fastly stock. The shares were sold at an average price of $30.16, for a total value of $11,448,796.32.
- On Tuesday, September 22nd, Artur Bergman sold 27,900 shares of Fastly stock. The shares were sold at an average price of $27.82, for a total value of $776,178.00.
- On Monday, September 21st, Artur Bergman sold 49,146 shares of Fastly stock. The shares were sold at an average price of $27.38, for a total transaction of $1,345,617.48.
- On Thursday, September 17th, Artur Bergman sold 2,200 shares of Fastly stock. The shares were sold at an average price of $25.30, for a total transaction of $55,660.00.
- On Monday, September 14th, Artur Bergman sold 31,079 shares of Fastly stock. The stock was sold at an average price of $24.53, for a total transaction of $762,367.87.
- On Tuesday, September 15th, Artur Bergman sold 2,500 shares of Fastly stock. The shares were sold at an average price of $25.14, for a total transaction of $62,850.00.
- On Wednesday, September 9th, Artur Bergman sold 8,960 shares of Fastly stock. The shares were sold at an average price of $22.72, for a total transaction of $203,571.20.
Fastly Stock Performance
Shares of NASDAQ:FSLY opened at $25.00 on Thursday. Fastly, Inc. has a 52 week low of $7.74 and a 52 week high of $34.82. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average price of $24.90 and a two-hundred day moving average price of $22.68.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on FSLY. Royal Bank Of Canada reiterated a “sector perform” rating and set a $25.00 target price on shares of Fastly in a report on Wednesday, September 23rd. Raymond James Financial restated an “outperform” rating on shares of Fastly in a report on Wednesday, September 23rd. Bank of America raised their price target on Fastly from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 23rd. Piper Sandler raised their price target on Fastly from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group started coverage on Fastly in a report on Friday, July 17th. They set a “buy” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Fastly currently has an average rating of “Hold” and a consensus target price of $27.42.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in FSLY. Bank of America Corp DE raised its stake in shares of Fastly by 120.0% in the 1st quarter. Bank of America Corp DE now owns 1,269,369 shares of the company’s stock valued at $36,888,000 after purchasing an additional 692,459 shares during the period. Convergence Investment Partners LLC bought a new stake in shares of Fastly in the first quarter valued at about $1,951,000. Range Financial Group LLC bought a new stake in shares of Fastly in the first quarter valued at about $1,667,000. Castleark Management LLC bought a new stake in shares of Fastly in the first quarter valued at about $5,164,000. Finally, Wellington Management Group LLP acquired a new position in shares of Fastly during the second quarter worth about $8,696,000. Institutional investors and hedge funds own 79.71% of the company’s stock.
Fastly Company Profile
Fastly, Inc (NASDAQ: FSLY) is a technology company that provides an edge cloud platform designed to help businesses deliver, secure and operate digital applications and content closer to end users. Its platform supports websites, mobile applications, APIs, streaming media and other internet services by processing data at the edge of the network, helping organizations improve performance, scalability and reliability.
Fastly’s products and services include content delivery, edge computing, application programming interface (API) services, cloud security and observability tools.
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