Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman Sells 16,748 Shares of Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 16,748 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $103,502.64. Following the completion of the sale, the chief technology officer now directly owns 6,225,980 shares of the company’s stock, valued at $38,476,556.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, August 19th, Artur Bergman sold 1,091 shares of Fastly stock. The stock was sold at an average price of $6.46, for a total value of $7,047.86.

Fastly Price Performance

Shares of NYSE:FSLY opened at $6.48 on Wednesday. Fastly, Inc. has a 52 week low of $5.52 and a 52 week high of $25.87. The company has a 50-day moving average price of $7.23 and a 200 day moving average price of $10.73. The company has a market cap of $884.73 million, a P/E ratio of -6.48 and a beta of 1.13. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. The business had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. During the same period last year, the firm earned ($0.32) EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Fastly, Inc. will post -1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FSLY shares. Raymond James lowered their target price on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Piper Sandler downgraded shares of Fastly from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $6.00 in a research report on Thursday, August 8th. Bank of America cut shares of Fastly from a “buy” rating to an “underperform” rating and reduced their target price for the company from $18.00 to $8.00 in a report on Thursday, May 2nd. Craig Hallum lowered their price target on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup reduced their price objective on Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.93.

Institutional Investors Weigh In On Fastly

Several institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new stake in shares of Fastly in the second quarter valued at about $38,000. Cambridge Trust Co. acquired a new stake in shares of Fastly during the 1st quarter valued at approximately $39,000. Cape Investment Advisory Inc. grew its holdings in shares of Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after acquiring an additional 4,150 shares during the period. EMC Capital Management grew its holdings in shares of Fastly by 400.0% in the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after acquiring an additional 6,000 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Fastly during the fourth quarter worth $61,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

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.