Fastly (NYSE:FSLY) CTO Artur Bergman Sells 40,000 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 40,000 shares of Fastly stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $17.53, for a total transaction of $701,200.00. Following the transaction, the chief technology officer owned 2,259,711 shares in the company, valued at approximately $39,612,733.83. This trade represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 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 transaction of $176,800.00.
• On Monday, February 2nd, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $9.36, for a total value 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 value 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 value of $304,345.60.
• On Tuesday, January 20th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was 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 shares were 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 stock was 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 stock was sold at an average price of $10.23, for a total value of $409,200.00.

Fastly Price Performance

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Fastly by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after buying an additional 310,234 shares during the period. Legal & General Group Plc grew its position in shares of Fastly by 3.4% during the second quarter. Legal & General Group Plc now owns 8,943,224 shares of the company’s stock valued at $63,139,000 after purchasing an additional 291,617 shares in the last quarter. Morgan Stanley lifted its position in shares of Fastly by 14.7% in the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after buying an additional 1,071,222 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Fastly during the 3rd quarter valued at approximately $61,864,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of Fastly by 2,795.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock valued at $48,754,000 after acquiring an additional 4,623,767 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Analysts Set New Price Targets

FSLY has been the subject of several analyst reports. Oppenheimer initiated coverage on shares of Fastly in a research report on Monday, November 17th. They set a “market perform” rating for the company. Citigroup upped their price target on Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Royal Bank Of Canada increased their price objective on Fastly from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Thursday, February 12th. KeyCorp raised Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a research note on Monday, December 15th. Finally, Wall Street Zen raised Fastly from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.00.

Fastly Company Profile

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.