Fastly (NYSE:FSLY) CTO Sells $3,699,601.74 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 200,847 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $18.42, for a total transaction of $3,699,601.74. Following the transaction, the chief technology officer owned 2,299,711 shares of the company’s stock, valued at approximately $42,360,676.62. This represents a 8.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 value of $701,200.00.
• On Friday, February 13th, Artur Bergman sold 20,128 shares of Fastly stock. The stock was sold at an average price of $18.25, for a total transaction 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 shares were sold at an average price of $9.36, for a total transaction 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 transaction of $512,928.00.
• On Monday, January 26th, Artur Bergman sold 30,680 shares of Fastly stock. The shares were 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 shares were 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 stock was sold at an average price of $9.35, for a total value of $187,000.00.
• On Monday, January 5th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $10.27, for a total transaction of $410,800.00.
• On Monday, December 29th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $10.23, for a total value of $409,200.00.

Fastly Stock Up 6.6%

Shares of NYSE FSLY traded up $1.17 during mid-day trading on Wednesday, reaching $18.83. 16,537,580 shares of the company were exchanged, compared to its average volume of 10,021,898. Fastly, Inc. has a 1 year low of $4.65 and a 1 year high of $19.27. The firm has a 50-day moving average of $10.32 and a 200 day moving average of $9.33. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -19.61 and a beta of 1.03. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FSLY. Align Financial LLC purchased a new position in shares of Fastly during the 4th quarter valued at approximately $41,000. Byrne Asset Management LLC acquired a new position in Fastly during the third quarter worth $43,000. Quarry LP purchased a new position in Fastly in the 3rd quarter valued at about $49,000. Geneos Wealth Management Inc. purchased a new stake in shares of Fastly during the first quarter worth approximately $52,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Fastly in the 4th quarter valued at $54,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

FSLY has been the subject of several research reports. William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Oppenheimer initiated coverage on Fastly in a research report on Monday, November 17th. They set a “market perform” rating for the company. DA Davidson set a $13.00 price objective on Fastly in a report on Thursday, February 12th. Wall Street Zen upgraded Fastly from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, KeyCorp upgraded Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a research report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Fastly presently has an average rating of “Hold” and a consensus price target of $12.00.

About Fastly

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.