Insider Selling: Fastly (NYSE:FSLY) CTO Sells $683,200.00 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $17.08, for a total transaction of $683,200.00. Following the completion of the transaction, the chief technology officer directly owned 2,185,135 shares in the company, valued at $37,322,105.80. This trade represents a 1.80% 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 Thursday, February 19th, Artur Bergman sold 34,576 shares of Fastly stock. The shares were sold at an average price of $20.10, for a total value of $694,977.60.
• On Thursday, February 19th, Artur Bergman sold 39,881 shares of Fastly stock. The shares were sold at an average price of $18.89, for a total value of $753,352.09.
• On Wednesday, February 18th, Artur Bergman sold 18,338 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total value of $321,465.14.
• On Tuesday, February 17th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total value of $701,200.00.
• On Friday, February 13th, Artur Bergman sold 200,847 shares of Fastly stock. The shares were sold at an average price of $18.42, for a total value of $3,699,601.74.
• 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 value of $367,336.00.
• On Monday, February 9th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was 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 stock was sold at an average price of $9.92, for a total transaction of $304,345.60.

Fastly Stock Performance

NYSE:FSLY opened at $19.12 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -19.92 and a beta of 1.03. The company’s 50-day moving average is $11.57 and its two-hundred day moving average is $9.92. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $20.27.

Hedge Funds Weigh In On Fastly

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Fastly by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock valued at $172,825,000 after purchasing an additional 310,234 shares during the period. Legal & General Group Plc lifted its holdings in Fastly by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 8,943,224 shares of the company’s stock worth $63,139,000 after buying an additional 291,617 shares in the last quarter. Morgan Stanley boosted its position in Fastly by 14.7% in the 4th quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock valued at $84,893,000 after buying an additional 1,071,222 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Fastly in the third quarter worth $61,864,000. Finally, Alyeska Investment Group L.P. grew its stake in shares of Fastly by 2,795.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after acquiring an additional 4,623,767 shares in the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLY has been the subject of several recent analyst reports. KeyCorp raised Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price for the company in a research note on Monday, December 15th. Piper Sandler reissued a “neutral” rating and set a $14.00 price objective (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Royal Bank Of Canada upped their target price on shares of Fastly from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Thursday, February 12th. Wall Street Zen upgraded shares of Fastly from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, DA Davidson set a $13.00 price target on shares of Fastly in a research note on Thursday, February 12th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.